(Bloomberg) -- Gold fell in New York, capping the
first weekly decline in a month, on speculation a strengthening
dollar will reduce the precious metal's appeal as an alternative
investment. Silver also dropped.
The dollar rallied to a two-week high against the euro
today after a U.S. Commerce Department report showed the economy
grew last quarter at the fastest pace in more than a year. Gold,
sold in the U.S. currency, has fallen 1.8 percent in the three
days since the dollar reached a record low against the euro.
Read more at Bloomberg Commodities News
first weekly decline in a month, on speculation a strengthening
dollar will reduce the precious metal's appeal as an alternative
investment. Silver also dropped.
The dollar rallied to a two-week high against the euro
today after a U.S. Commerce Department report showed the economy
grew last quarter at the fastest pace in more than a year. Gold,
sold in the U.S. currency, has fallen 1.8 percent in the three
days since the dollar reached a record low against the euro.
Read more at Bloomberg Commodities News
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