Metals – Market Recap Options Activity – Sep 22,2009

Bloomberg (Reported 9.22.09):
“Sept. 22 (Bloomberg) -- Gold increased, ending a three-day decline, as the dollar weakened against major global currencies, boosting the appeal of precious metals.

Bullion, which typically moves inversely to the dollar, has risen 14 percent this year as the Dollar Index, a six-currency gauge of the dollar’s strength, has fallen 5.9 percent. ” Gold Gains, Ending Three-Day Drop, as Weak Dollar Lifts Demand

Reuters (Reported 9.22.09):
“LONDON (Reuters) - Gold climbed 1.5 percent to trade within striking distance of its all-time high on Tuesday, as the dollar fell across the board ahead of a Federal Reserve meeting on interest rates.

Spot gold rose as high as $1,017.40 an ounce and was at $1,015.90 an ounce by 1047 GMT, versus $1,002.55 an ounce late in New York on Monday, when it fell to $995.50, its lowest in almost a week.” Gold climbs as dollar falls, eyes record high