05.11.2008 - Gold drops in asia after biggest gain in seven weeks on dollar
From Bloomberg: Gold declined in Asia after its biggest rally in seven weeks as the dollar's gains against the euro and crude oil's retreat reduced the appeal of bullion as an alternative asset. The dollar rose to $1.2929 against the euro at 9:38 a.m. in Singapore after yesterday falling by the most since the 15-nation currency's 1999 debut as a thaw in money markets reduced demand for the safety of U.S. assets. Crude oil fell by 1.1 percent after rising more than $6 a barrel yesterday..... Full Article: Source
Print