Gold drops as Europe woes erode demand for metal

Gold futures fell to the lowest price in more than a week as concern that Europe’s debt crisis is deepening boosted the dollar and curbed demand for the metal as an alternative investment.

23rd July, 2012
Gold drops as Europe woes erode demand for metal
Europe’s debt crisis is hitting demand for gold.

Gold futures fell to the lowest price in more than a week as concern that Europe’s debt crisis is deepening boosted the dollar and curbed demand for the metal as an alternative investment.

The dollar rose to a two-year high against the euro as the cost of insuring against default on Spanish government debt climbed to a record. Greece’s creditors meet this week amid doubts that the country will meet its bailout commitments....

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