1
July
Gold Climbs Over $940 in Asia, Heading for Third Quarterly Gain
1 July 2009 Bloomberg.com
Gold climbed above $940 an ounce in Asia, heading for a third quarterly increase, as the weakening dollar fueled demand for the precious metal as a store of value.
Bullion, which typically moves inversely to the U.S. currency, has climbed 2.4 percent in the quarter, while the dollar fell against all 16 major currencies as increased investor risk appetite spurred demand for higher-yielding assets. Gold holdings in the SPDR Gold Trust, the biggest exchange- traded fund backed by bullion, were unchanged for a second day at 1,125.74 metric tons yesterday.
http://www.bloomberg.com/apps/news?pid=20601012&sid=abybGA3F0_Ts
