12
August
Gold Rises, Snapping 5-Day Drop, as Bank Woes Drive Dollar Down
12 August 2009 Bloomberg.com
Gold advanced after U.S. stocks fell and the dollar depreciated on concern that bank earnings won’t improve in the second half.
Bullion snapped a five-day decline, the longest run of losses in five months, as the Dollar Index also fell on speculation the Federal Reserve will affirm its commitment to keeping interest rates low. The Standard & Poor’s 500 Index slid 1.3 percent in New York, driven by a slump in bank shares.
http://www.bloomberg.com/apps/news?pid=newsarchive&sid=abrm4tFT2TTc
