Bloomberg.com: Worldwide: "Gold Rises to Near 1-Month High; ECB May Quicken Rate Increases
July 3 (Bloomberg) -- Gold rose to the highest in almost a month in London on speculation the European Central Bank will quicken the pace of interest rate increases on concern inflation is accelerating.
Investors are increasing bets that the ECB will step up the pace of rate adjustments as faster economic growth and near-record oil prices stoke inflation. Gold had its biggest one-day gain since 2001 on June 30 after the U.S. Federal Reserve indicated it may take a break from raising rates, curbing demand for the dollar and boosting the appeal of gold.
``Expectations of a stronger euro and the Fed's less hawkish comments has weakened the dollar, boosting gold,'' said Simon Toyne, an analyst at Numis Securities Ltd. in London. ``Inflation is one of the drivers of gold in the longer term.'' View natural gold nuggets at: http://www.california-gold-rush-miner.us
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