Finotec News Archive - April 25 2008

Gold prices are going down

The increasing Dollar has a major impact in all commodities, since it reduces their appeal as an alternative investment to bonds and stocks and as a hedge against inflation

Joana Fonseca
25 April 2008

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Gold is decreasing as the stronger Dollar is leading investors to speculate that Fed will stop interest rates cuts. Gold traded at $891.25 at 8:00am GMT. The increasing Dollar has a major impact in all commodities, since it reduces their appeal as an alternative investment to bonds and stocks and as a hedge against inflation. Investors shouldn’t be bullish as “the U.S. dollar seems to have found a bottom and may rebound further against the euro and crude oil also came off”, said Fortis Bank's Ng.

Finotec Analysis Team
25 April 2008

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