Gold, silver decline as dollar strengthens against Euro
Friday, 13 May 2011, 01:36 IST
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Seattle: Gold prices fell today, halting a three-day rally as a stronger dollar eroded the appeal of the precious metal as an alternative asset. Gold fell by $ 8.90, or 0.6 percent, to $ 1,508 on the Comex. Silver also declined by $ 1.22, or 3.2 percent, to $ 37.265 an ounce. The dollar rose against the euro on speculation that European leaders may not grant Greece additional aid, forcing the nation to restructure its debt. Gold touched a record $ 1,577.40 an ounce on May 2 before dropping 4.2 percent last week as the greenback climbed.
Source: PTI
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