Gold Drops With Crude as Dow Average Fails to Hold 16,000

Gold and silver sank with oil, while the dollar weakened against most peers and Treasuries rose as investors dissected speeches from Federal Reserve officials to gauge the outlook for stimulus. Most U.S. stocks fell after the Dow Jones Industrial Average exceeded 16,000 for the first time.

Gold and silver lost more than 1 percent as crude closed at a five-month low. The Bloomberg U.S. Dollar Index, which tracks the currency against 10 major peers, slipped to the lowest level in 1 1/2 weeks, while 10-year Treasury yields dropped four basis points. The Dow pared gains to 15,976.02 by 4:35 p.m. in New York. The Standard & Poor’s 500 Index fell 0.4 percent after climbing above 1,800 for the first time. The Hang Seng China Enterprises Index rose 5.7 percent, the most since 2011.