Gold May Drop as Growth Risk Hurts Commodities

Gold is poised for a second weekly decline as growing evidence of an economic slowdown and the dollar’s strength curb demand for commodities.

Immediate-delivery gold dropped as much as 0.3 percent to $1,525.73 an ounce before trading at $1,526 at 2:35 p.m. in Singapore. The metal lost 0.3 percent this week after a 0.7 percent drop the previous week. The August-delivery contract decreased 0.2 percent to $1,527.60. Cash silver lost 2.4 percent this week and was set for a third weekly decline.