Gold May Fall in New York as Equity Advance Cuts Investor Demand
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Gold may decline in New York as European equities rise for a third day, cutting demand for the metal as an alternative investment.
Bullion advanced 2.1 percent yesterday after a statement showed some Federal Reserve policy makers favored more aggressive action to stimulate the economy during their Aug. 9 meeting and data showed consumer confidence slumped. European equities climbed to the highest level in almost two weeks.