Gold Declines in London as Europe’s Debt Crisis Boosts Dollar
Gold declined in London as concern that Europe’s debt crisis is deepening boosted the dollar and curbed demand for the metal as an alternative investment.
The dollar climbed to a two-year high versus the euro as the cost of insuring against default on Spanish government debt climbed to a record. The nation’s 10-year note yields also rose to a euro-era all-time high. Greece’s creditors arrive in Athens tomorrow to assess the country’s progress in meeting its bailout targets.