Gold reaches six-week high

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Deborah Levine
March 2, 2010

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Gold futures rose on Tuesday, pushing prices on the precious metal to the highest in six weeks, as the U.S. dollar declined, increasing the appeal of gold as an alternative investment.

Gold for April delivery rose $4.30, or 0.4%, to $1,122.30. It earlier touched $1,125.50, the highest on a closing basis since Jan. 19.

The dollar index /quotes/comstock/11j!i:dxy0 (DXY 80.62, -0.04, -0.05%) , which measures the greenback against a trade-weighted basket of six major currencies, slid to 80.607, from 80.753 in late North American trading Monday.

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