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Coin Collecting NewsGold, Silver Decline as Dollar’s Slump Against Euro Stalls
Gold fell from a two-month high in New York as the dollar’s decline against the euro stalled, reducing the appeal of the precious metal as an alternative investment. Silver also dropped. The dollar rebounded from a record $1.3845 against the euro as a price chart some investors use to predict currency movements suggested the decline was too rapid. Before today, gold had gained 7.3 percent this year, and the dollar slumped 4.6 percent against the euro. “The dollar started off weak this morning, and now is coming back a bit,” said Marty McNeill, a trader at R.F. Lafferty & Co. in New York. “Gold’s really taking the cue from that.”
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