Gold Rebounds as Dollar Drop Fuels Demand for Alternative Asset
This article is for subscribers only.
Gold rebounded from the lowest price in two weeks as a weaker dollar boosted demand for the precious metal as an alternative asset.
The dollar fell for the first time this week against a basket of six major currencies. Before today, gold gained 22 percent this year, touching a record $1,424.30 an ounce on Nov. 9, partly on concern that the Federal Reserve’s program to buy back bonds will erode the dollar.