(Bloomberg) -- Gold and silver, little changed in
New York, may rise on speculation a slump in the U.S. housing
market will hurt growth, weakening the dollar and boosting the
appeal of precious metals as alternative investments.
Gold generally moves in the opposite direction of the
dollar, which is down a third straight day against a basket of
six major currencies. A government report showed home
construction slowed in May, a signal the Federal Reserve may not
raise interest rates anytime soon. Before today, gold had gained
3.4 percent this year while the dollar index fell 1.1 percent.
Read more at Bloomberg Commodities News
New York, may rise on speculation a slump in the U.S. housing
market will hurt growth, weakening the dollar and boosting the
appeal of precious metals as alternative investments.
Gold generally moves in the opposite direction of the
dollar, which is down a third straight day against a basket of
six major currencies. A government report showed home
construction slowed in May, a signal the Federal Reserve may not
raise interest rates anytime soon. Before today, gold had gained
3.4 percent this year while the dollar index fell 1.1 percent.
Read more at Bloomberg Commodities News
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