Pre - U.S. Market News - Gold Fell On Strong US Currency
24.10.2005 11:10
Gold fell in Asian trading as a rising dollar triggered selling by Japanese speculators seeking to lock-in gains, Bloomberg.com reported.
Gold gained 1.2 percent on Oct. 21, the most since Oct. 6. on rising US dollar, which erodes bullion's appeal as an alternative investment to U.S. stocks and bonds.
Gold for immediate delivery fell as much as $1.90, or 0.4 percent, to $464.99 an ounce after closing Oct. 21 in New York at $466.89. It traded at $465.25 at 11:43 a.m. Sydney time.
posted by Benjamin Train @ 3:12 AM
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