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Gold Falls as China Pledge Curbs Appeal of Metal as Haven

Gold fell for the first time in three sessions as China signaled that it would support the economy and German and French officials said they want to keep Greece in the euro, eroding the appeal of the metal as a haven.

The Standard & Poor’s 500 Index of equities rose as much as 1.3 percent as Premier Wen Jiabao said China should adopt a “proactive fiscal policy and a prudent monetary policy,” and German and French leaders agreed to do work to keep Greece in Europe’s currency union. Gold has advanced 1.4 percent this year partly on concern that the crisis in Europe may worsen.