FXstreet.com (Sydney) – Gold gave up recent gains on concerns that demand for gold as well as silver will fall as the dollar strengthens. The dollar extended its gains against the euro by another week. However, investment in the SPDR Gold Trust has fallen 2.3% this year after rising 45% in 2009.
Investor appetite for gold via ETFs has weakened providing few conditions for further price rises. Demand by jewellery makers also fell in 2009 and the International Monetary fund announced last week that it would be selling 191.3 metric tons.
