(Bloomberg) -- Gold in New York rose from a one- month low as a gain in the value of the euro against the dollar boosted the appeal of the precious metal as an alternative investment. Silver also climbed.
Gold has moved in tandem with the euro about 71 percent of the time in the past year. The metal still headed for the biggest weekly drop since March as the dollar heads for a second consecutive weekly gain against the euro. Before this week, gold was up 8.1 percent this year, reaching an 11-month high on April 20, as the euro climbed to a record against the dollar.
Read more at Bloomberg Commodities News
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