Gold News

Gold holds as the dollar falls and investors concern about inflation

Gold holds as the dollar falls and investors concern about inflation

the SPDR Gold Trust, the biggest exchange- traded fund backed by bullion, were unchanged at 1,132.15 tons

Gold gained for a second day as the dollar weakened and investor concern increased that inflation may accelerate, spurring demand for the precious metal as an alternative investment. The dollar, which typically moves inversely to bullion, may extend its losses against the euro as speculation that the global recession is ending reduces demand for the U.S. currency as a refuge. Other currencies gained against the dollar after oil reached a seven-month high and Asian equity futures gained. Holdings in the SPDR Gold Trust, the biggest exchange- traded fund backed by bullion, were unchanged at 1,132.15 tons yesterday, according to data on the company