10
December
Gold May Gain, Paring Weekly Decline, on European Debt Contagion Concern
10 December 2010 Bloomberg.com
Gold may gain for a second day in London as investors seek an alternative to currencies amid Europe’s debt woes and on concern the U.S. will extend Treasury purchases.
The dollar was little changed against the euro amid speculation Federal Reserve policy makers on Dec. 14 will discuss a plan to extend Treasury purchases. Fitch Ratings yesterday cut its rating for Ireland after the country sought international assistance last month. Gold reached a record $1,431.25 an ounce on Dec. 7. China ordered lenders to park more money with the central bank for the third time in five weeks.
