WMPT Nightly Business Report May 9, 2012
$1,594 an ounce. erika miller reports from new york. >> reporter: lots of shouting... ( shouting ) ...and lots of selling in the gold options pit today. the yellow metal has fallen about 3% this week alone. the steep declines seem surprising given gold is the ultimate safe haven and investors are growing more nervous about europe. so what gives? >> it's definitely correlated to strengthening of the u.s. dollar. if you look at the price movements today, it's almost the gold price moving in exact lock- step to strengthening in the u.s. dollar. >> reporter: but there may be more to it. ...