Gold Sinks To Five Week Low As The Dollar Strengthens

It's a wild and woolly world out there, especially in Europe. Today Fitch downgraded Portugal's debt. The Greek crisis shows no signs of solution. Germany is playing hardball, refusing to help Greece refinance its upcoming debt. The Eurozone is in a state of disarray.

As a consequence, the euro is falling out of bed and the dollar is screaming higher. Gold, which trades opposite the dollar, tumbled to a five month low. with April futures closing at $1,086.20 down $14.90 The June euro futures are trading at $1.3348 down .01410 (2:45 EDT) and the June dollar futures are trading at 82.040 up .922.

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Gold Sinks To Five Week Low As The Dollar Strengthens originally appeared on BloggingStocks on Wed, 24 Mar 2010 17:40:00 EST. Please see our terms for use of feeds.

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