Gold Falls as Investors ‘Look to Bank Profit’ After 2010 Rally
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Gold fell to a two-week low on investor sales after the metal’s rally to a record this year. Silver, palladium and platinum also dropped.
In 2010, gold has gained 25 percent, heading for the 10th straight annual gain, amid record investment in exchange-traded funds backed by physical metal. The price reached an all-time high of $1,432.50 an ounce on Dec. 7, partly on demand for a store of value amid escalating debt in the U.S. and Europe.