Gold Falls Most in Two Weeks on Dollar Strength, Equities Fall
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Gold fell the most in two weeks, as a rebounding dollar and slumping equity markets eroded demand for commodities.
The MSCI All-Country World Index of equities fell as much as 1.3 percent as France and Austria face downgrades by Standard & Poor’s, according to government officials and people familiar with the matter. The S&P GSCI Spot Index of 24 raw materials retreated as much as 1.2 percent amid concern that Europe’s financial crisis may worsen. The dollar rose to the highest in almost 16 months against a basket of major currencies.