29
January
PRECIOUS-Gold off 3-mth lows, eyes on stronger dollar
29 January 2010 Reuters
* Euro's slide prompts fund selling in gold
* Selling countered by physical buying from Asia
* SPDR Gold holdings remain unchanged
By Chikako Mogi
TOKYO, Jan 29 (Reuters) - Gold prices moved away from near
three-month lows on Friday but remained pressured, hurt by a
rising dollar and waning risk appetite among investors.
The euro's extended fall against the dollar to its lowest in
more than six months helped lift the U.S. currency to a
five-month high against a basket of key currencies on Friday.
The weakness in the single European currency prompted funds
to further trim their long positions in gold, but Thursday's drop
in gold prices to their lowest level since Nov. 3 was spurring
buying from across Asia.
http://www.reuters.com/article/idUSTOE60S00O20100129?type=goldMktRpt
