(Bloomberg) -- Gold in New York rose from its lowest
in eight weeks as a decline in the value of the dollar boosted
the appeal of the precious metal as a hedge against the U.S.
currency. Silver also climbed.
The dollar fell the most in a month against the yen after
China allowed its currency to strengthen at a faster pace and
raised interest rates to help cool an overheating economy. Gold,
which generally moves in the opposite direction of the U.S.
currency, reached an 11-month high on April 20 as the euro
headed toward a record against the dollar.
Read more at Bloomberg Commodities News
in eight weeks as a decline in the value of the dollar boosted
the appeal of the precious metal as a hedge against the U.S.
currency. Silver also climbed.
The dollar fell the most in a month against the yen after
China allowed its currency to strengthen at a faster pace and
raised interest rates to help cool an overheating economy. Gold,
which generally moves in the opposite direction of the U.S.
currency, reached an 11-month high on April 20 as the euro
headed toward a record against the dollar.
Read more at Bloomberg Commodities News
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