(Bloomberg) -- Gold gained in London as the dollar slumped to the lowest versus the euro in two years, prompting some investors to buy the metal as an alternative investment.
The dollar declined on speculation government data today will show a widening U.S. trade deficit. The deficit grew to $60 billion in February from $59.1 billion the previous month, according to a Bloomberg News survey. Gold and the dollar often trade in opposite directions. Last year, bullion climbed 23 percent while the U.S. currency slid 11 percent.
Read more at Bloomberg Commodities News
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