Gold News

Gold drops as the dollar rises and investors look for safe

Gold drops as the dollar rises and investors look for safe

Gold fell on Tuesday as a resurgent dollar amid lower risk appetite and sovereign debt worries dented investment interest in the metal. The metal recovered from session lows of $1,108.20 an ounce. However, as the U.S. currency pared gains, oil prices recovered some of their earlier losses and metal found strong buying interest at lower levels, dealers said. Fitch Ratings said on Tuesday it still has a negative outlook on Portugal’s double-A ratings and was studying the details of the country’s new austerity measures. Gold is trading at $1,120 as of 21:17pm, GMT, with a bullish trend. Gold