(Bloomberg) -- Gold and silver rose in New York on
speculation a slowing U.S. economy may keep the Federal Reserve
from raising interest rates, weakening the dollar and boosting
the appeal of precious metals as alternative investments.
Five of the past six bear markets for the dollar have
resulted in a higher gold price. The metal is up 6.7 percent
this year as the dollar has declined to a record low against the
euro. Investment in StreetTracks Gold Trust, an exchange-traded
fund backed by bullion, reached a record 507 tons on Aug. 1.
Read more at Bloomberg Commodities News
speculation a slowing U.S. economy may keep the Federal Reserve
from raising interest rates, weakening the dollar and boosting
the appeal of precious metals as alternative investments.
Five of the past six bear markets for the dollar have
resulted in a higher gold price. The metal is up 6.7 percent
this year as the dollar has declined to a record low against the
euro. Investment in StreetTracks Gold Trust, an exchange-traded
fund backed by bullion, reached a record 507 tons on Aug. 1.
Read more at Bloomberg Commodities News
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