26
January
Spot Gold Rebounds From Three-Month Low as Fed Assesses Economy
26 January 2011 Bloomberg.com
Gold gained for the first time in five days in London after a fall to an almost three-month low and a weakening dollar spurred physical purchases and investment.
Bullion yesterday tumbled to $1,322.75, the lowest price since Oct. 27, as holdings in exchange-traded products plunged by the most since October 2008. The dollar was little changed at a nine-week low against the euro as President Barack Obama called for a freeze on non-security discretionary spending. The metal typically moves inversely to the U.S. currency.
http://www.bloomberg.com/apps/news?pid=newsarchive&sid=agybTZndZ5kU
