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Gold Falls From Three-Week High on Dollar’s Rally; Silver Drops

Gold futures fell from a three-week high as the dollar’s rally reduced demand for the precious metal as an alternative asset. Silver also dropped.

The greenback climbed as much as 0.8 percent against a basket of six major currencies as Germany damped expectations for a fast resolution to Europe’s debt crisis. The dollar jumped 6 percent last month, while gold slumped 11 percent.