Gold News

Gold Bullion 'can climb alongside dollar'

Gold Prices could rise alongside the US dollar as a result of the increase in perceived risk surrounding the euro due to concerns over Greece's debts, it has been suggested.

Investments in Gold had previously been operating with an inverse relationship to the dollar, as buyers looked to hedge against weakness in the greenback.

However, Adam Klopfenstein, a senior market strategist at MF Global Holdings' Lind-Waldock unit, explained that Gold Prices are rising as investors seek an alternative to euros.

"Gold is moving along with all of the commodities," he said. "People want to embrace gold with the overall risk-tolerance that is coming back."

A simultaneous rise in dollar and Gold Prices is also expected by Pradeep Unni, senior analyst at Richcomm Global Services, a Dubai-based commodity services company.

He told Reuters: Investors seem to be partly offloading euro-zone risk equally in gold and the US dollar."

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