Gold, Silver Gain on Demand for Alternative as Dollar Declines
Source: Bloomberg (4/10/07)
Gold and silver rose on speculation declines in the dollar will spur investor demand for the metal as an alternative to stocks and bonds.
Gold has climbed 6.3 percent this year, rising to a nine- month high of $688.64 in February, while the dollar is near a two-year low against the euro. The U.S. currency declined against the euro and yen today on expectations that U.S.-China trade tensions will slow growth in both countries.