Gold, Silver Rise as Sliding Dollar Revives Investment Demand

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June 23, 2009 2:47pm ETF BASIC NEWS

June 23 (Bloomberg) — Gold rose as a weaker dollar revived demand for the precious metal as an alternative investment. Silver also gained.

The U.S. Dollar Index, a six-currency gauge of the greenback’s value, fell as much as 1.3 percent after yesterday rising the most in a week. Gold, which earlier slid to the lowest in six weeks, typically moves inversely to the dollar.


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