10
September
Gold steadies above $990/oz, eyes on dollar
10 September 2009 Reuters
Gold inched up on Thursday after failing to hold above $1,000 per ounce the previous day, with investors focusing on the dollar as further weakness in the greenback is likely to benefit the precious metal.
Gold had topped the psychologically key $1,000 for a second straight session on Wednesday before retreating to a low of $986.95.
But worries about the dollar slipping amid growing risk appetite and diversification fears over the traditional reserve currency continued to support the allure of gold as an alternative asset, traders said.
http://www.reuters.com/article/hotStocksNews/idUSTRE57R4FM20090910
