13
August
Gold Gains a 2nd Day as Dollar Drops After U.S. Rates Unchanged
13 August 2009 Bloomberg.com
Gold advanced for a second day as a drop in the dollar and an improving outlook for global economies fueled demand for precious metals and other commodities.
Bullion strengthened as the Dollar Index, a six-currency gauge of the greenback’s value, fell for a third day after the Federal Reserve left the benchmark interest rate between zero and 0.25 percent and said the recession in the U.S. is easing. Expectations for a weaker dollar over the next six months increased, according to 2,345 respondents from New York to Tokyo to London in the Bloomberg Professional Global Confidence Index.
http://www.bloomberg.com/apps/news?pid=newsarchive&sid=a1JdIQ9HrFZ0
