Gold Posts Longest Losing Streak Since May as Dollar Advances
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Gold futures fell for the fifth straight session, capping the longest slump since May, as a stronger dollar crimped demand for the precious metal as an alternative investment.
The dollar rose as much as 0.4 percent to $1.3233 against the euro. Gold has fallen 22 percent this year as the greenback gained 4.2 percent against a gauge of 10 major trading partners. The metal has also retreated as some investors lost faith in bullion as a store of value amid concern that the Federal Reserve may slow the pace of its stimulus.