6
October
Gold May Advance for Second Day as Weaker Dollar Stokes Demand (GoldCore Quoted)
6 October 2009 Bloomberg.com
Gold, little changed in London and New York today, may rise for a second day as a weaker dollar boosts demand for the precious metal as an alternative investment.
The dollar fell as much as 0.5 percent against the euro after Group of Seven finance chiefs refrained from calling for measures to stop the U.S. currency’s decline. The metal, which has gained in six of the past seven weeks in London, tends to rise when the dollar weakens.
...
“A continued hold above $1,000 should signal that gold has strong fundamentals despite its recent behavior being influenced by short-term dollar fluctuations,” GoldCore Ltd., a brokerage in Dublin, said today in a note.
http://www.bloomberg.com/apps/news?pid=20601116&sid=a3LRBR.wR9y4
