Gold Advances for a Third Day

- December 28th, 2010

Bloomberg reports that Gold rose the most in a month after the dollar’s retreat boosted demand for the precious metal as an alternative investment.

Bloomberg reports that Gold rose the most in a month after the dollar’s retreat boosted demand for the precious metal as an alternative investment.

The market news is quoted as saying:

The dollar fell for a fourth consecutive day against a basket of six major currencies on speculation that the Federal Reserve will keep interest rates near zero percent to help bolster the economy. Before today, gold gained 26 percent this year, touching a record $1,432.50 an ounce on Dec. 7.

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