Finotec News Archive - May 12 2008
Gold slides as the Dollar strengths
Gold fell today, as the Dollar recovered against major currencies, after a sell-off last week; the precious metal usually has an inverse relation with the Dollar as the two compete for investorsJoana Fonseca
12 May 2008
Add to bookmark:
Print this article
Subscribe to RSS
Gold fell today, as the Dollar recovered against major currencies, after a sell-off last week; the precious metal usually has an inverse relation with the Dollar as the two compete for investors. Gold traded at $883.65 at 7:00am GMT, after rising as high as $889.10, compared with $886.30/888.30 in late New York on Friday. “The current momentum in Gold doesn’t look to be strong enough to test the $900 level”, said Naomi Suzuki, senior analyst at Sumitomo Corp.
Finotec Analysis Team
12 May 2008
Print this article