Gold fell for the first time in four sessions in New York, set for its biggest annual loss in three decades, as an improving economy cut demand for a protection of wealth. Silver futures also retreated.
Copper rose in New York and London to the highest price in more than a week before a report that may show a stronger gauge of the economic outlook for the U.S., the world’s second-biggest consumer of the metal.
Gold declined in London after a rally to a record and a rebounding dollar prompted some investors to sell bullion. Silver was little changed after reaching a 30-year high and palladium fell from a nine-year high.
Gold surged to a record $1,899.40 an ounce as mounting concern that the global economy is slowing amid debt crises spurred demand for bullion as a protection of wealth. Platinum rose to a three-year high.