17
November
Gold May Climb to Record as Dollar Slump Fuels Investor Demand
17 November 2009 Bloomberg.com
Gold fell in London as some investors opted to sell the precious metal after yesterday’s rally to a record and as a stronger dollar curbed demand for an alternative investment.
Gold, which tends to move inversely to the U.S. currency, reached $1,143.60 an ounce yesterday. The Dollar Index, a six- currency gauge of the greenback’s value, rebounded from a 15- month low after Federal Reserve Chairman Ben S. Bernanke said yesterday central bank policy will ensure that the “dollar is strong.”
http://www.bloomberg.com/apps/news?pid=20601091&sid=aL0n3WQ0QoDY
