2
July
Gold Declines in Asia as Strengthening Dollar Reduces Appeal
2 July 2009 Bloomberg.com
Gold declined in Asian trading as a gain in the dollar curbed the precious metal’s appeal as an alternative investment.
The dollar climbed from a three-week low against the euro after a Chinese official said he hoped the greenback would remain stable and was “not aware” of a plan to discuss a new reserve currency at next week’s Group of Eight meeting. Gold surged 1.5 percent yesterday, the largest closing gain since June 4, as the dollar slumped.
http://www.bloomberg.com/apps/news?pid=20601116&sid=aRjwiK17Y22Q
