(Bloomberg) -- Gold rose in Asia for a second day and
headed for its first weekly gain in four as investors bet the
recent fall may have been overdone. Silver also advanced.
Gold, which traded at a two-month low on May 24, yesterday
posted its largest one-day gain in four weeks as the dollar fell
against the euro after the government reported U.S. first quarter
economic growth the weakest in more than four years. Gold, viewed
by some as an alternative asset at times of dollar weakness,
reached an 11-month high of $694.25 an ounce April 23.
Read more at Bloomberg Commodities News
headed for its first weekly gain in four as investors bet the
recent fall may have been overdone. Silver also advanced.
Gold, which traded at a two-month low on May 24, yesterday
posted its largest one-day gain in four weeks as the dollar fell
against the euro after the government reported U.S. first quarter
economic growth the weakest in more than four years. Gold, viewed
by some as an alternative asset at times of dollar weakness,
reached an 11-month high of $694.25 an ounce April 23.
Read more at Bloomberg Commodities News
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