Capital Gold Group Report: Gold Rebounds as Dollar Weakens Against Euro; Silver Advances

By Pham-Duy Nguyen

Sept. 12 (Bloomberg) -- Gold rose, snapping a nine-day losing streak, as the dollar fell against the euro, reviving demand for the precious metal as an alternative investment.

The euro rose as much as 0.9 percent against the dollar. The 15-nation currency is still down 1.1 percent this week and gold has fallen 5.5 percent. Gold reached a record in March as the euro headed to an all-time high against the dollar in July.

``Gold is definitely oversold and it's certainly due for a bounce,'' said Frank Lesh, a trader at FuturePath Trading LLC in Chicago. ``This is about capital flow. We're seeing some profit taking on the long-dollar positions and a little bit of buying coming into gold.''

Capital Gold Group, gold group, gold, gold prices, gold news, gold coins, gold bullion, gold IRA, IRA gold