BD:Gold regains some value on back of weaker dollar
LONDON — Gold regained some lost territory from the previous session today supported by a weaker dollar, but easing concern about Greece’s debt crisis has diminished gold’s appeal as a safe haven in the short term.
Spot gold was bid at $1494 an ounce at 0640 GMT compared with $1485,80 late in New York on Friday. Silver was at $34,02 from $33,94. Platinum was at $1719,2 from $1734,95. Palladium was at $756,8 from $754.
Asian equities climbed for a fifth consecutive session today, led by Chinese stocks, and the euro inched higher as some near-term risks receded about Greece’s funding for the rest of the year and a slowdown in China appeared relatively moderate.
The euro pared its gains against the dollar today and pulled back from a one-month high after Standard & Poor’s said a debt rollover plan being considered for Greece may put the country into selective default. REUTERS
