Gold May Gain as First Monthly Drop Since March Spurs Demand
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Gold, little changed in New York, may gain on speculation that the first monthly drop in prices since March will spur physical demand. Platinum climbed to a four-week high.
Bullion is down 4.6 percent this month and futures yesterday dropped as low as $1,182.40 an ounce. They fell to an eight-week low of $1,175.10 on July 20. Holdings in the world’s biggest gold-backed exchange-traded fund yesterday slid to the lowest level since June 9.