Gold Climbs To 3-Week High In London
Source: Bloomberg.com (1/2/07)
According to Bloomberg.com, gold climbed to a three-week high in London on speculation investors will buy bullion as an alternative to the dollar.
The U.S. currency's 10 percent decline against the euro last year helped drive up gold prices by 23 percent. The dollar fell to a three-week low against the common European currency today, bringing the price of gold in euro terms to 482 euros, or up 2.1 percent in one week.