Gold Rises on Speculation Wide Swings in Currencies to Boost Metal Demand

Bloomberg reports that Gold futures rose on speculation that wide swings in currency markets will boost demand.

The market news is quoted as saying:

The dollar fell against a basket of six major currencies after three straight weekly gains. Gold has climbed 26 percent this year, reaching a record $1,432.50 an ounce on Dec. 7, as Europe’s debt crisis and low U.S. interest rates spurred investment in precious metals.