Gold News & Info

Source: Bloomberg

Seattle— Gold fell for the first time in three sessions on speculation the dollar will strengthen, reducing the appeal of the precious metal as an alternative investment. Silver rose. The dollar was little changed against a weighted basket of six major currencies after climbing 1.8 percent yesterday. Gold generally moves in the opposite direction of the U.S. currency.

�People in the gold market are anticipating more strength in the dollar,� said Tom Hartmann, a commodity analyst at Altavest Worldwide Trading Inc. in Mission Viejo, California. �The stock market is also bouncing so the sentiment is down for gold.� Gold futures for February delivery fell $5.10, or 0.6 percent, to $850.10 an ounce on the Comex division of the New York Mercantile Exchange. Silver futures for March delivery rose 15 cents, or 1.3 percent, to $11.325 an ounce in New York. The metal slumped 24 percent in 2008 while gold climbed 5.5 percent. See full story.