- The Washington Times - Monday, March 30, 2009

NEW YORK (AP) - Gold prices are moderately lower as the dollar rallies against European currencies amid fresh signs of global economic troubles.

Energy prices have dropped sharply, while agriculture futures are mostly lower.

Signs of economic distress in Europe have given the greenback a boost against the euro and the British pound. Demand for gold flourishes when the dollar falls, as the yellow metal is used as a hedge against inflation and a weak buck. So the dollar’s renewed strength on Monday has weighed on gold prices.

Gold for June delivery is down $7.60 to $917.70 an ounce on the New York Mercantile Exchange.

Sign up for Daily Newsletters

Manage Newsletters

Copyright © 2020 The Washington Times, LLC. Click here for reprint permission.

Please read our comment policy before commenting.

 

Click to Read More and View Comments

Click to Hide