gnutrade.satya
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On Tuesday, Gold rose as the dollar weakened against the euro, boosting interest in the precious metal as a currency hedge. Gold is often bought as a hedge against currency weakness, and all dollar-priced commodities become cheaper for holders of other currencies as the U.S. unit loses value.
Calyon analyst Robin Bhar said: "It has been all about the dollar. It has almost been blow for blow as the dollar/euro has weakened steadily and gone through that 1.40 level."
U.S. gold futures for June delivery on the COMEX division of the New York Mercantile Exchange rose $2.60 to $954.30 an ounce
Calyon analyst Robin Bhar said: "It has been all about the dollar. It has almost been blow for blow as the dollar/euro has weakened steadily and gone through that 1.40 level."
U.S. gold futures for June delivery on the COMEX division of the New York Mercantile Exchange rose $2.60 to $954.30 an ounce
