7
August
Gold Drops, Paring Weekly Gain, After Climb to Two-Month High
7 August 2009 Bloomberg.com
Gold declined on speculation investors are offloading holdings of the precious metal to lock in gains after it climbed to a two-month high yesterday and commodity prices slipped.
Bullion, which touched $971.68 an ounce yesterday, is still on course for a fourth weekly advance as the dollar, as measured against six major currencies, traded near the lowest level in 10 months. The Reuters/Jefferies Index of 19 commodities slid 1.4 percent to 264.77 yesterday.
http://www.bloomberg.com/apps/news?pid=20601091&sid=amKMerYbe_cc
