4
March
Gold Rises to Six-Week High on Demand for Currency Alternative (GC in Bloomberg via Business Week)
4 March 2010 Business Week
Gold climbed to a six-week high in New York on speculation that escalating sovereign-debt concerns will boost demand for the metal as an alternative to currencies.
Greek Prime Minister George Papandreou announced an additional 4.8 billion euros ($6.6 billion) of deficit cuts as he tries to convince European allies and investors that he can tame the region’s biggest budget gap. Gold priced in euros climbed to a record yesterday.
