Gold Falls as Dollar Rally Curbs Demand for Metal as Alternative
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Gold fell for the third straight session as a strengthening dollar eroded the appeal of the precious metal as an alternative asset.
The euro fell to the lowest in two months against the dollar on speculation that Europe’s debt crisis will spread. Investors also sought the U.S. currency as a haven amid concern that the conflict between North Korea and South Korea will escalate. Before today, gold had gained 24 percent this year, touching a record $1,424.30 an ounce in New York on Nov. 9.