30
December
Gold May Rise for Fifth Straight Day as Investors Seek to Preserve Wealth
30 December 2010 Bloomberg.com
Gold fluctuated near a three-week high in London as a weaker dollar spurred demand for an alternative investment. Silver rose to a 30-year high, and palladium reached the highest level in nine years.
The U.S. Dollar Index, a six-currency gauge of the greenback’s strength, fell to the lowest level in almost two weeks. Gold, which typically moves inversely to the dollar, reached a record $1,431.25 an ounce on Dec. 7 and yesterday climbed to all-time highs in euros and British pounds.
