(Bloomberg) -- Gold declined on reduced expectations for a drop in U.S. interest rates, buoying the dollar and eroding investor demand for the precious metal as an alternative asset. Silver advanced.
Bullion dropped $5 yesterday after an industry report showed U.S. manufacturing grew in April at the fastest pace in almost a year, boosting the dollar against the euro. Gold had climbed to an 11-month high on April 23 partly on speculation slowing U.S. growth would cause the Federal Reserve to lower interest rates while rates were climbing in Europe.
Read more at Bloomberg Commodities News
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment