22
January
Gold slides on dollar rise, fear that China may cool growth
22 January 2010 MarketWatch
Gold futures extended their loss into a second session Thursday, pressured as Chinese inflation data fed expectations Beijing was moving to slow the country's growth, and by a rise in the U.S. dollar.
Sapping demand for precious metals, often seen as an alternative to paper currencies, investors throughout much of the metals session bid up the U.S. dollar on concerns about sovereign debt and proposed U.S. bank restrictions.
