Gold Tries to Rally, Even as US Dollar Gains

Gold prices slightly higher in commodities trading

Normally, gold prices move inversely to the US dollar, but sometimes the two move in tandem if risk aversion is a factor, since both can be considered safe havens.

Right now, gold is attempting a rally, moving a little bit higher, toward the $1,640 an ounce level. With concerns in Europe, investors are looking for safe haven, and gold’s recent drop makes it attractive right now.

US dollar is also higher, moving up against the euro as forex traders once again show signs of risk aversion as the situation in Europe continues to deteriorate. 

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• Economic News and Forex Trading
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