Gold Seen Declining as a Stronger Dollar Curbs Demand
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Gold declined to the lowest in more than a week as a stronger dollar eroded demand for the precious metal as an alternative investment.
The dollar gained the most in more than two months against a basket of currencies after the International Monetary Fund said the world economy will grow 3.3 percent this year, the slowest pace since the 2009 recession. The region using the European currency will contract 0.4 percent this year, 0.1 percentage point worse than forecast in July, the IMF said. Gold rallied last week as central banks from the U.S. to Asia pledged to spur growth.