20
October
Gold Advances as Investors Seek Alternative to Declining Dollar
20 October 2009 Bloomberg.com
Gold gained, reversing an earlier loss, as the dollar traded near a 14-month low against the euro, fueling demand for the metal as an alternative investment.
Hedge funds and other large speculators hold their most- bullish position ever in futures, helping to propel gold’s gains for the year to 21 percent as a weaker dollar and rising government debt spur concern that inflation may accelerate. Spot gold touched an all-time high of $1,070.80 on Oct. 14.
http://www.bloomberg.com/apps/news?pid=20601116&sid=aLUKENz9lvNM
