Gold Surges to Four-Month High on Demand for Currency Hedge
The dollar fell as much as 0.8 percent against a basket of six major currencies. The euro headed for a weekly loss against the greenback on mounting speculation that Greece will default on its debt. Gold priced in euros and Swiss francs reached all- time highs. Investment in the SPDR Gold Trust, the biggest exchange-traded fund backed by bullion, climbed to a record.
