Gold slumps as dollar strengthens » financialsurfer.com

Gold slumps as dollar strengthens

December 5th, 2009 | Category: Economy
The gold price has slumped after surprisingly good US unemployment data sent the US dollar higher, making gold a less attractive investment. Gold fell more than $65, or 5%, to $1,161.4 an ounce, down from a record high of $1,226.56 in early trading. After figures showed the US jobless rate falling, the dollar gained 2% on the Japanese yen and 1.3% on the euro. Gold has hit a number of record highs in recent…

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