Gold Retreats with Euro

THE PRICE OF PHYSICAL GOLD rose to its best level since April 1st in London trade on Wednesday, gaining 0.5% to $928 an ounce before slipping back on a bounce in the Dollar. The Euro also retreated, down from a new 8-week high above $1.3720, while the British Pound sank 2¢ on a sharp cut in the Bank of England’s forecast for the UK economy. The Gold Price in Sterling jumped to a four-session high of £610 an ounce. “Gold will compete against equities for investment money,” notes Walter de Wet’s commodity team ...