Gold Rises on Speculation Wide Swings in Currencies to Boost Metal Demand
Investing News Network - December 27th, 2010
Bloomberg reports that Gold futures rose on speculation that wide swings in currency markets will boost 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.