Bloomberg reports that Gold futures were little changed, erasing earlier gains, as the U.S. dollar rebounded from lows, making the metal less attractive as an alternative investment.
The market news is quoted as saying:
The dollar recovered to be little changed against a basket of six major currencies, after losing as much as 0.8 percent earlier today. Bullion typically moves inversely to the greenback. Gold has gained 25 percent this year as investors lost confidence in currencies and sought to protect their wealth from debt woes in Europe.
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