On Friday gold
steadily fell throughout most of world trade and dropped to as low as
$850.65 by about 10AM EST in New York before rebounding nearly 1%
into the close, but it still ended with a loss of 1.54%. The Euro
gold price rose to over €570 on significant euro weakness.
fell markedly as the U.S. dollar index rose on the view that the
financial and economic problems in the US have spread to the rest of
the world and influenced central banks to join the fed in its policy
of not raising interest rates anytime soon.