Gold Declines as Haven Demand Linked to Europe, Korea Eases
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Gold fell for the first time in three days as demand for a haven dropped after the euro rebounded and Korean concerns eased.
The euro was little changed against the dollar, and Asian stocks pared losses after the U.S. sent an aircraft carrier to take part in exercises off the Korean Peninsula. Yesterday, gold jumped 1.6 percent, the most since Nov. 4, after North Korea fired artillery at a South Korean island and the euro plunged on concern that Europe’s debt crisis may spread.