(Bloomberg) -- Gold climbed to its highest since May in London after investors bought the commodity as a hedge against declines in the U.S. dollar, which slid close to a two- year low against the euro. Silver and platinum also gained.
The dollar fell to $1.36 against the euro for the first time since December 2004 on speculation slower U.S. inflation will spur investors to seek fixed-income assets in nations where interest rates are climbing. Gold generally moves counter to the U.S. currency. Bullion surged 23 percent last year while the dollar slid 11 percent against the euro.
Read more at Bloomberg Commodities News
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment