Gold Climbs on Investor Demand as Dollar Declines for First Day in Three

28 October 2010  Bloomberg.com

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 Gold prices may rise in London as a decline in the value of the dollar supports investment demand.

Yesterday the dollar rallied and gold dropped amid speculation that any monetary program, or quantitative easing, to boost the U.S. economy will be gradual. Gold usually moves inversely to the greenback, which today declined against the euro. Bullion is trading 4.4 percent below a record $1,387.35 an ounce reached on Oct. 14.

http://www.bloomberg.com/news/2010-10-28/gold-climbs-on-investor-demand-as-dollar-declines-for-first-day-in-three.html