Each weekday, Cash4Gold will troll through the web's gold banter and post some of the bigger or more interesting stories. Following is a run-down of today's features:
"Gold, other commodities rebound as dollar declines"
Author: Sara Lepro
Website: Google.com
Main Points: The price of gold rebounded slightly today amid reports of a weakened dollar. Gold for August delivery was up $2.20 to settle at $954.70 an ounce.
"The dollar resumed its three-month decline against the euro and British pound," according to Lepro's article, "despite weak economic data out of Europe, helping to lift prices for gold and other commodities. Commodities have largely been at the mercy of the dollar in recent weeks, and tend to rise when the dollar falls and vice versa."
The dollar is thought to have been weakened by low interest rates and a massive governmental debt load.
Analysis: It's the first rise in three sessions, so it is far too soon to determine if the downward momentum has been halted in its tracks. After a largely positive month of May when gold appeared destined for $1,000 an ounce, June has been less optimistic.
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