By Glenys Sim
Aug. 12 (Bloomberg) -- Gold plunged to the lowest in more than seven months as the dollar gained against the euro, reducing the metal's appeal as an alternative investment to assets denominated in the U.S. currency.
Gold fell to $802.34 an ounce, the lowest since Dec. 21, and 22 percent below its March 17 record of $1,032.70 an ounce. The metal traded at $807.08 at 9:57 a.m. Singapore time.
To contact the reporter on this story: Glenys Sim in Singapore at gsim4@bloomberg.net
Tuesday, August 12, 2008
Gold Price Slumps to Lowest in More Than Seven Months on Dollar
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