Gold Drops to Four-Month Low on Concerns Euro to Weaken
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Gold dropped to a four-month low as deepening political turmoil in Greece boosted the appeal of the dollar as a safe haven and curbed demand for precious metals as alternative assets. Silver fell to the lowest since January.
The euro weakened for an eighth session against the dollar as Greek politicians struggled to form a new government, raising concern that the nation may leave the currency bloc. Commodities plunged to the lowest level this year yesterday as global equities slid to a three-month low.