Gold Advances in London Trading on Decline to 6-Week Low, Dollar
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Gold gained for the first time in three days in London as some investors bought the metal after its drop to a six-week low and as a weaker dollar spurred demand for an alternative asset.
The dollar was little changed after earlier today touching a three-week low versus the euro on speculation the European Central Bank will raise interest rates this week. European finance ministers on July 2 authorized an 8.7 billion-euro ($12.6 billion) loan payout to Greece by mid-July after the nation’s parliament passed austerity measures.