US gold traded near week high after climbing yesterday on the weakness of the dollar
US gold traded near week high after climbing yesterday on the weakness of the dollar, boosting the appeal of the metal as an alternative investment.
The dollar fell against the euro on speculation FRS Chairman Alan Greenspan's plan to keep raising interest rates at a "measured'' pace, restated yesterday, was already reflected in the U.S. currency.
Gold has risen 21 percent in the past two years as the euro gained against the dollar.
Gold for immediate delivery fell 5 cents to $423.10 an ounce Yesterday, gold rose 0.7 percent to its highest closing price since July 13.