29
July
Gold Rebounds From Biggest Drop in Seven Weeks on Haven Demand
29 July 2009 Bloomberg.com
Gold was little changed, reversing earlier gains, as a rising U.S. currency reduced the appeal of raw materials priced in dollars.
Bullion rose earlier after U.S. stocks fell yesterday as consumer confidence trailed projections and companies posted worse-than-expected results, fueling safe-haven demand for the precious metal. Gold tumbled by the most since June 5 yesterday as the Dollar Index, a six-currency gauge of the greenback’s value, rebounded from a 2009 low.
http://www.bloomberg.com/apps/news?pid=20601012&sid=aGODSQTHcJzQ
