5
August
Gold May Climb a Seventh Day as China's New Rules to Keep Demand Buoyant
5 August 2010 Bloomberg.com
Gold fluctuated in London amid speculation demand for the metal as a protection of wealth will be eroded by reduced physical purchases after a six-day rally.
The metal has gained this week as China unveiled plans to relax trading rules for bullion and the dollar on Aug. 3 slipped to a three-month low against the euro. A seven-day climb for gold, which usually moves inversely to the greenback, would be the longest winning streak in two months.
