Gold under $1,480 as rebound peters out

- May 17th, 2011

Market Watch reports old futures traded lower Tuesday as a rebound in electronic trading fizzled and the metal felt the pinch of a rising dollar.

Market Watch reports old futures traded lower Tuesday as a rebound in electronic trading fizzled and the metal felt the pinch of a rising dollar.

The market news is quoted as saying,

A stronger dollar is negative for commodities as it makes them more expensive to holders of other currencies, and, in the case of precious metals, takes away fear of currency debasement as a reason to pile up on them.

For the complete market news, click here.

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