danierusan111
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Gold Heads for First Weekly Drop - 2008/09/05 20:12
Hi guys! I hope you have terrific plans for the weekend. But right now we have our last chance to profit in our favorite markets, such as gold 
Gold headed for its first weekly drop in three as the dollar strengthened against the euro, curbing demand for the metal as an alternative investment.
The relationship between gold and the euro-dollar exchange rate is strengthening, with a correlation of 0.7 so far this year, compared with 0.46 in the same period last year. A figure of 1 would mean the two moved in lockstep. The dollar rose for a seventh day against the euro.
Gold for immediate delivery was little changed, gaining 16 cents to $796.61 an ounce as of 12:41 p.m. in London. A close at that price would mean a weekly drop of 4.2 percent.
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