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Gold strengthens as the dollar weakens and over inflation concerns

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Finotec

21-08-2008

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buoying demand for the metal as an alternative investment

Gold rose to its highest in a week as the dollar dropped against the euro, buoying demand for the metal as an alternative investment. ``The major effect on gold is coming from the weakening dollar,'' Liran Kapeluto, a senior dealer at trading-system operator Finotec Trading U.K. Ltd., said by phone from London. ``It is pushing commodities up.'' Gold is currently trading at $821.05 as of 8:40am, GMT.

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Next Analysis: Gold continues to soar as fears build up

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Derivative and forex trading broker Finotec is a division of leading real-time Internet trading company Finotec Trading Inc, which pioneered the world of online forex trading in 1998. After launching our revolutionary forex online trading platform in 2001, we continued to improve our services and no

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