16
December
Gold May Decline as U.S. Economic Data, European Debt Concern Boost Dollar
16 December 2010 Bloomberg.com
Gold may rise in London as Europe’s debt woes spur demand for a protection of wealth and as investors seek an alternative to currencies.
The dollar fell against the euro before a meeting of European Union leaders to discuss how to contain the debt contagion in the region. Moody’s Investors Service yesterday said it may cut Spain’s credit rating. Gold reached a record $1,431.25 an ounce on Dec. 7.
