Gold Falls as U.S. Manufacturing Data Ease Concern on Economy
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Gold fell for the first time in four days after a report showed U.S. manufacturing expanded in November at the fastest pace in five months, damping demand for the metal as a haven.
The Institute for Supply Management said its factory index increased to 52.7 from 50.8 in October, with readings over 50 indicting expansion. Economists surveyed by Bloomberg projected 51.8. Gold jumped 3.7 percent in the previous three days, the longest rally in five weeks, after central banks from the U.S. to China moved to ease strains in the financial market.