26
October
Gold May Advance for Third Day on Increased Investment, Physical Demand
26 October 2010 Bloomberg.com
Gold may decline in London as some investors sell the metal after a two-day rally and as a pause in the dollar’s slump curbs demand for an alternative asset.
The U.S. Dollar Index, a six-currency gauge of the greenback’s strength, gained after yesterday dropping as much as 1 percent. The U.S. currency was little changed versus the euro as a Federal Reserve official reiterated that a second round of economic stimulus was required. Gold, which usually moves inversely to the dollar, reached a record $1,387.35 an ounce on Oct. 14.
