Gold fell for a second day in London as the euro’s decline curbed demand for precious metals as an alternative to currencies. Silver retreated 1.6 percent.
Gold may fall for a third day in New York as reports that France and Germany are nearing an accord to boost the size of Europe’s rescue fund curbs demand for the metal as a protection of wealth.
Gold, little changed in New York today, may fall for a third day as some investors sell the metal to lock in gains after a rally.
Gold futures fell from a one-week high amid concern that demand is easing while global economic growth slows. Platinum closed at a three-month high.
Gold futures rose, capping the biggest weekly gain in two months, as demand improves for the metal as an inflation hedge, including by retail buyers of coins, bars and jewelry.
Gold rose to a four-week high in London as a weaker dollar increased the metal’s appeal as an alternative asset.
Gold may decline in New York on sales by some investors after the precious metal climbed near a record over concerns that Europe’s debt crisis will sap the region’s economic recovery and weaken its 16-nation currency.
Gold climbed for the first time in four days in New York on speculation slowing growth in China will spur policy makers to add to stimulus measures.
"Stocks are under pressure today and the dollar is not as strong as yesterday."
- Afshin Nabavi on Oct 02, 2014