Gold gained as the dollar dropped
to the lowest level in a month after Lawrence Summers withdrew
from consideration as the next Federal Reserve chairman before
the central bank meets this week to decide on stimulus. Silver
rallied from its worst week since June.
Bullion for immediate delivery climbed as much as 0.8
percent to $1,336.40 an ounce and traded at $1,329.38 by 8:19
a.m. in Singapore. Prices dropped 4.7 percent last week, the
biggest decline since the period ended June 28. Gold for
December delivery rose 1.6 percent to $1,329.70 an ounce on the
Comex in New York, rallying from a 5.6 percent loss last week. (more)
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