Gold Hit As Dubai Woes Sends Dollar Higher

Gold is tumbling today as debt worries in Dubai has sent investors running into the dollar. Dollar strength often leads to Gold weakness. The precious metal is trading at $1162.10 in the spot market this morning, $30 below Wednesday's New York close.

Other precious metals also fell, including silver, platinum and palladium.

The sell-off in gold raises questions about gold's attributes as a "flight to safety trade."

Once market's settle down from the Dubai news, investors again may flock to the gold as "printing money" may be governments' only reaction to more debt woes around the globe.

Related Stocks and ETFs:

• SPDR Gold Shares (NYSE: GLD)
  
• Market Vectors Gold Miners ETF (NYSE: GDX)
  
• iShares Silver Trust (NYSE: SLV)
  
• iPath DJ AIG Platinum TR Sub-Idx ETN (NYSE: PGM)
  
• PowerShares DB Gold Short ETN (NYSE: DGZ)
  
• PowerShares DB US Dollar Index Bullish (NYSE: UUP)
  
• PowerShares DB US Dollar Index Bearish (NYSE: UDN)
  
• ETFS Physical Swiss Gold Shares (NYSE: SGOL)
  
• Barrick Gold (NYSE: ABX)
  
• Goldcorp (NYSE: GG)
  
• Newmont Mining (NYSE: NEM)
  
• Kinross Gold (NYSE: KGC)
  
• Yamana Gold (NYSE: AUY)
  
• AngloGold Ashanti Ltd. (NYSE: AU)

You May Also Be Interested In

• Jefferies cuts China online beauty outlook after July slowdown
• BofA launches AI tracker as Claude leads intelligence rankings
• Micron rises as White House presses Apple to avoid Chinese memory chips