23
November
Gold Rallies to Record in Asia on Bets Dollar to Weaken Further
23 November 2009 Bloomberg.com
Gold jumped to a record in London and New York as a slumping dollar boosted bullion’s appeal as an alternative asset. Other precious metals gained.
The U.S. Dollar Index, a gauge of the greenback’s value against six currencies, slid as much as 0.8 percent after Federal Reserve Bank of St. Louis President James Bullard said he supported extending the central bank’s purchases of mortgage- backed securities. Bullion has climbed 32 percent this year as the currency index has dropped 7.7 percent.
http://www.bloomberg.com/apps/news?pid=newsarchive&sid=aTo9stObEKSc
