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Gold Falls After Dollar’s Rally Erodes Demand for Metal as Haven

Gold fell as the dollar strengthened against the euro, eroding the metal’s appeal as an alternative investment.

European Central Bank President Mario Draghi said that substantial risks to the economy remain, and the euro dropped as much as 0.5 percent. Gold has slumped 17 percent from a record $1,923.70 an ounce on Sept. 6, while the euro dropped 7 percent against the greenback.