Bloomberg.com: Commodities

Bloomberg.com: Commodities: "Gold, Silver Futures Gain on Dollar Decline Against Euro

By Pham-Duy Nguyen

Aug. 8 (Bloomberg) -- Gold and silver rose in New York as the dollar weakened against the euro, boosting the precious metals' appeal as alternative investments.

Five of the past six bear markets for the dollar have resulted in a higher gold price. The U.S. currency fell to a record low against the euro on July 24, helping to spark a 4.4 percent gain in gold last month.

``The bounce in the euro is helping gold,'' said Nick Ruggiero, a trader at Eagle Futures Inc. in New York. ``There's been some pretty strong buying coming in.''"