11
August
Gold Trades Near Lowest This Month on Dollar Gain Speculation
11 August 2009 Bloomberg.com
Gold traded near the lowest this month on speculation that the dollar will continue to advance on data pointing to a recovery in the U.S. jobs market.
Bullion touched $943.50 an ounce yesterday, the lowest level price since July 31, as the Dollar Index, a six-currency gauge of the greenback’s strength, extended a rebound from a 10- month low. The U.S. economy may have bottomed out on stimulus spending, Nobel Prize winner Paul Krugman said on Aug. 9. Data last week showed the pace of U.S. job losses slowed and the unemployment rate fell for first time in more than a year.
http://www.bloomberg.com/apps/news?pid=20601012&sid=aCWcGTmNeM2M
