In the past difficult decade, what investment was up nine straight years?
*Bloomberg, by Pham-Duy Nguyen & Nicholas Larkin, January 25, 2010
”Gold rose in New York, rebounding from a one-month low, on speculation that a weaker dollar will boost the appeal of the precious metal as an alternative investment.
The dollar has been little changed against a basket of six major currencies for three sessions since reaching a five-month high last week. Before today, gold gained 27 percent in the past year as the dollar dropped 8.5 percent.
‘The dollar is giving traders a green light to buy gold,’ said Frank Lesh, a trader at FuturePath Trading LLC in Chicago. ‘The market is going to be range-bound until we get more clarity on interest rates and the direction of the dollar.’
Gold futures for February delivery rose $6.30, or 0.6 percent, to $1,096 an ounce at 10:43 a.m. on the New York Mercantile Exchange’s Comex unit. Prices touched $1,081.90 on Jan. 22, the lowest level since Dec. 23.
In 2009, gold rallied for a ninth straight year as the Federal Reserve kept interest rates near zero percent to revive growth, driving the dollar lower.”
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