Gold rose above $890 an ounce on Wednesday as the dollar's decline against the euro and yen fueled the demand for the precious metal as a hedge investment.June-dated gold futures ended the session at $892.50, up $9.80 for the session. With the increase, gold erased its modest losses from yesterday.The dollar saw weakness against the euro, backing away from a monthly high and also hit a near three-week low against the yen. Usually, gold moves opposite the greenback because of the precious metal's value as a safety investment.Treasury Secretary Timothy Geithner hinted Wednesday that policymakers may be forced to alter their recovery strategies as the global financial crisis drags on. Speaking before the Economics Club of Washington, Geithner explained that the revised estimate from the International Monetary Fund for global growth could spark a change in policy.
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