FRANKFURT, Germany, May 17 (UPI) -- The euro's slide to a four-year low against the U.S. dollar Monday reflects doubt about the safety of equity investments, market analysts said.
Last week, the euro fell after a brief upswing provided by an announcement of $957 billion in loans to be made available for debt-burdened countries.
Meanwhile, the price of gold rose to record highs last week as the option of buying government bonds -- generally considered a safe bet -- became more tentative.
"More people are making the yes or no decision to pull out of the market and keep their money closer to home," said Lou Crandall, the chief economist at Wrightson ICAP, The New York Times reported Monday.
"Investors are waiting to see whether the stability package can be put into place," said Alex Roever, a market analyst at J.P. Morgan Securities.
The euro reached $1.2351 Monday from Friday's $1.2381.
Last week, gold hit a record $1,236.40 an ounce on the Comex exchange. On Monday, gold for June delivery settled at $1,227.20 from an recent settlement of $1,233.30 per ounce.
