Gold Futures Rise as Investors Seek Alternative To Currencies

Greece May have its sovereign-debt rating lowered within months if it fails to meet the objectives in its plan to reduce a budget deficit, Moody's Investors Service said yesterday. The dollar fell as much as 0.6 percent against the euro yesterday after climbing Thurs near a nine-month high. 

"You've got to look to play gold on the long side, 'said Matt Zeman, a metals trader at LaSalle Futures Group in Chicago. "Fiat currencies continue to Lose credibility. Even if Greece gets rescued, there will be another country in line with their hands out. People are flocking Thurs Thurs gold shield themselves from the volatility in the currency markets. " 

Gold futures for April delivery rose $ 4.20, or 0.4 percent, to $ 1,112.70 an ounce at 9:35 am on the New York Mercantile Exchange's Comex unit. The metal is up 2.6 percent this month, heading for the first monthly gain since November. 

The euro has fallen against the currencies this month most except the pound as concern that Greece will struggle Thurs contain its deficit reduced demand for the 16-nation monetary unit. 

'Safe Haven' Search 

"The euro-zone scenario is still lingering in the market," said Bernard Sin, the head of currency and metals trading gold iraq at MKS Finance SA in Geneva. "People do not trust the dollar, they do not trust the euro, so the only way to go Is to look at other alternatives such as gold. It's a safe haven. "Read More Story,http://www.businessweek.com/news/2010-02-26/gold-may-rise-for-2nd-day-in-new-york-as-dollar-s-rally-stalls.html

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Former Boyfriend Offers Support For Rochette After Mother's Death

He is the former boyfriend of Canadian figure skater Joannie Rochette, Whose Mother Therese died early Sunday morning in a Vancouver hospital after suffering a heart attack. "She was just 55

Fighting back tears the whole time, Tremblay offered his support for Rochette.

"It's silly, but when I was with her I always tried to be the strong one. But when she's not around, it's harder. I have a competition prepare Thurs. Joannie I hope will be strong. What I really want to say is that She'll Be Able to spend time with her family and the people that are close to her. That's the most important thing - not the competition. "Read More Story,http://www.montrealgazette.com/health/Former+boyfriend+offers+support+Rochette+after+mother+death/2598075/story.html

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World Condemns Gaddafi's Called For 'jihad' Against Switzerland

They Called for a boycott of Switzerland by the Islamic world. "Any Muslim in any part of the world who works with Switzerland is an apostate, is against Mohammad, God and the Koran," he said.

"The masses of Muslims must go to all airports in the Islamic world and prevent any Swiss plane landing, to all harbors and prevent any Swiss ships dock, inspect all shops and markets to stop any Swiss goods being sold."

Col Gaddafi's typically eccentric row with Switzerland, Which began when one of his sons was arrested along with his wife Because of allegations of abuse by two members of his domestic staff, has come as a blow Thurs western powers.

They thought that they had managed To Tame the Libyan leader after he voluntarily gave up a basic nuclear weapons program in 2003 and agreed a compensation deal over the Lockerbie Bombing.

Yesterday, both the European Union and the United Nations hit out at his speech.

"If these reports are correct, they come at an Unfortunate moment," a spokesman for Baroness Ashton, the European Union's foreign policy representative, said.

She said the EU was trying to negotiate a settlement of the disagreements between Libya and Switzerland, even though it is not an EU member.

Sergei Ordzhonikidze, the Director-General of the United Nations, said: "I believe that such declarations on the part of the Head of State are inadmissible in international relations." Mr. Ordzhonikidze is based at the UN's European headquarters in Geneva.Read More Story,http://www.telegraph.co.uk/news/worldnews/europe/switzerland/7325539/World-condemns-Gaddafis-called-for-jihad-against-Switzerland.html

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