6
August
Gold Gains as Weak Dollar, U.S. Data Bolster Haven Appeal
6 August 2009 Bloomberg.com
Gold advanced as a falling dollar and weak U.S. economic data bolstered the precious metal’s appeal as a haven investment.
Bullion climbed toward a two month high after service industries in the U.S. shrank more than forecast in July, and companies cut another 371,000 jobs, indicating rising unemployment will erode spending in the world’s largest economy. The dollar was little changed at $1.4416 per euro after touching $1.4447 yesterday, the weakest level since Dec. 18.
http://www.bloomberg.com/apps/news?pid=20601012&sid=a4PLx4uhw4M4
