Tuesday, February 08, 2005

Gold Price Declines to Lowest in Almost Four Months as Dollar Gains

Feb. 8 (Bloomberg) -- Gold prices in New York fell to the lowest in almost four months as a gain in the value of the dollar eroded the appeal of the metal as an alternative against U.S. stocks and bonds.

Gold, sold in dollars, dropped for the seventh session in eight as the U.S. currency rose against the euro and the yen. The dollar climbed to the highest in almost two months against the yen today after Federal Reserve Governor Susan Bies said the U.S is attracting a ``tremendous amount'' of investment.

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Source: Bloomberg By Choy Leng Yeong

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