12
October
Gold Declines for First Time in Three Days as Dollar Advance Curbs Appeal
12 October 2010 Bloomberg.com
Gold declined for the first time in three days as the dollar advanced, curbing the appeal of commodities as alternative investments.
Bullion for immediate delivery fell as much as 0.5 percent to $1,347.35 an ounce at 12:51 p.m. in Melbourne, after reaching an all-time high of $1,364.77 on Oct. 7. The dollar rose 0.2 percent against a basket of six major currencies. The precious metal typically moves in the opposite direction to the dollar.
