17
August
Gold Declines for a Second Day as Dollar’s Advance Saps Demand
17 August 2009 Bloomberg.com
Gold declined for a second day as the dollar advanced against the euro, eroding demand for the metal as an alternative investment, and commodities dropped.
Bullion slumped as much as 0.7 percent as the Dollar Index, which measures the U.S. currency against those of six major trading partners, rose for a second day. The MSCI Asia Pacific Index of shares slumped after Japan’s economy grew less than expected and U.S. consumer confidence unexpectedly fell. Oil for September delivery was at $66.98 a barrel, near a two-week low.
http://www.bloomberg.com/apps/news?pid=20601116&sid=a4sGof.jDUuM
