24
May
Gold Snaps Three-Day Drop as Haven Allure Strengthens on Europe
24 May 2010 Bloomberg.com
Gold climbed for the first time in four days in London as a weaker euro revived demand for a haven and last week’s decline to the lowest level in more than two weeks boosted the metal’s allure.
Gold slid 4.6 percent last week, the most since February 2009, as some investors reduced their positions to cover losses in other assets and as the euro advanced. The euro fell against the dollar today after the Bank of Spain took over a failing regional lender.
