Gold Up as Dollar Goes Down (PSAU, UGL, CEW)

The price of gold went up on Friday as the U.S. dollar retreated. In Friday's trading, the Forex Gold Index rose 1.5% to $1,511. Precious metals are strongly linked to the value to the dollar. As the greenback started losing value against the euro, following better than expected economic data from the Eurozone, the price of gold started to increase again, after falling below the $1,500 line on Thursday. Traders who believe the U.S. dollar might continue to shed value and the price of gold to keep rising will be interested in PowerShares Global Gold & Prec Metals PSAU, Ultra Gold ProShares UGL and WisdomTree Dreyfus Emerging Currency Fund CEW.