Gold slips as dollar strengthens
Friday, August 20th, 2010Platinum-gold ratio slips to lowest since end June. 21 Aug 2010 12:31 AM
Platinum-gold ratio slips to lowest since end June. 21 Aug 2010 12:31 AM
Gold may climb in London on increased demand for a protector of wealth as the dollar weakens and on speculation that the Federal Reserve will step up buying of bonds to prop up the U.S. economy.
Source:Gold May Gain on Weakening Dollar, Concern About Bond Purchases by the Fed
Gold futures on the COMEX Division of the New York Mercantile Exchange rose for the eighth straight day and touched a 3-week high on Friday, as the weak U.S. employment report heavily weighed on the dollar. Silver moved up, but platinum ended lower.
Gold may gain in New York for a seventh day on speculation that a weakening dollar will spur demand for bullion as an alternative investment.
NEW YORK (MarketWatch) — Gold on Wednesday recouped a quarter of the prior day’s steep losses as a weaker U.S. dollar increased the metal’s allure for holders of other currencies. The gold contract for August delivery gained $5.10 to $1,163.10 an ounce in electronic trade on the New York Mercantile Exchange. Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they …