Gold, Oil, Copper, Slump as Dollar Gains; U.S. Stocks Pare Drop

Gold slid the most since July while oil and copper fell as the dollar advanced following an increase in American factory orders. U.S. stocks pared losses after the Federal Reserve signaled plans to continue with bond purchases.

Gold slumped 3.1 percent to $1,378.80, and oil fell from the highest price in 27 months, tumbling 2.4 percent to $89.38 a barrel. Copper futures lost 2 percent. The Standard & Poor’s 500 Index, which started 2011 with its biggest rally in a month yesterday, slipped 0.1 percent to 1,270.20 at 4 p.m. New York time after falling as much as 0.7 percent earlier. The Dollar Index, which gauges the American currency against six major peers, rose 0.4 percent.