21
July
Gold Rises as Dollar Slump, Oil Gain Spur Demand From Investors
21 July 2009 Bloomberg.com
Gold climbed to a five-week high as a weaker dollar and higher oil prices boosted the metal’s appeal as an alternative investment and a hedge against inflation. Other precious metals also gained.
The U.S. Dollar Index, a six-currency gauge of the greenback’s value, fell to a six-week low on speculation that European and U.S. economic reports this week will show the global recession is easing, sapping demand for a refuge from risk. Oil climbed to the highest in almost two weeks.
http://www.bloomberg.com/apps/news?pid=20601012&sid=a.Jx3v34P3AQ
