Silver Falls to Six-Week Low, Gold Drops as Dollar Gains
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Silver futures fell to a six-week low as the dollar’s advance reduced the appeal of commodities as alternative investments. Gold, platinum and palladium dropped.
The greenback rose to a five-month high against a basket of 10 currencies amid signs of gains in the U.S. economy. In July, sales of silver coins by the U.S. Mint, the world’s largest, tumbled 27 percent from June to the lowest this year. The Bloomberg Commodity Spot Index of 22 raw materials dropped to the lowest since February.