Gold Higher, Dollar Weaker Despite Comment from Geithner On Importance of a Strong Dollar
As has been the trend, Gold is higher again today to new all-time highs. Spot Gold last traded at $1114.10, above yesterday's close of $1105.80. Gold ETF SPDR Gold Shares (NYSE: GLD) is up 0.81 percent to $109.27 in pre-open trading.
The move higher in Gold is largely related to the weakness in the dollar. The dollar is lower against many major currencies again today.
The rise in gold and weakness in the dollar comes despite comments from Treasury Secretary Tim Geithner that a strong dollar is "very important" for the U.S. economy.
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