21
June
Gold rises towards record; digests China's yuan move
21 June 2010 Reuters
Gold prices rose to a record high at $1,264.90 an ounce in Europe on Monday as a slip in the dollar added impetus to the metal's existing rally on the back of rising concerns over financial and sovereign risk.
The metal later eased back below $1,260 an ounce, however, as news that China was to lift the yuan's peg to the dollar to allow greater flexibility in its exchange rate, which hurt the U.S. currency, lifted interest in assets seen as higher risk.
http://www.reuters.com/article/ousivMolt/idUSTRE65E5NH20100621
