Gold, Silver Futures Advance as Dollar Weakens Against Euro
by: admin, July 2, 2007
July 2 (Bloomberg) — Gold and silver rose in New York as a decline in the value of the dollar against the euro boosted the appeal of precious metals as alternative investments.
Gold generally moves in the opposite direction of the dollar, which today dropped to a six-week low against the euro on speculation the European Central Bank may raise interest rates faster than the U.S. Federal Reserve. Before today, gold had gained 2 percent this year and the euro was up 2.6 percent.
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