Gold Drops for Fourth Time in Five Days as Dollar Climbs
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Gold futures declined for the fourth time in five sessions as the dollar’s rebound reduced the appeal of the metal as an alternative investment.
The greenback rose for the first time in four sessions against a basket of major currencies. The gauge has climbed 3.7 percent this year, while gold has dropped 6.2 percent. Holdings in the SPDR Gold Trust, the biggest exchange-traded-product backed by the metal, fell 0.9 metric ton to 1,205.31 tons on April 5, the lowest since June 2011.