Gold Falls on Concern Economy Is Slowing as Dollar Gains
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Gold futures dropped to the lowest since January as signs of slowing growth from China to Germany sent the dollar higher, curbing demand for the precious metal. Palladium slumped the most this year.
The Standard & Poor’s GSCI Index of 24 raw materials fell as much as 1.6 percent after Germany’s manufacturing and services industries unexpectedly weakened and a report showed China’s manufacturing may contract for a fifth straight month in March. The dollar rose as much as 0.4 percent against a basket of six currencies.