Gold Falls for Second Straight Session on Dollar Rally
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Gold futures fell for the second straight session as the dollar’s advance curbed demand for the metal as an alternative investment.
The greenback rose as much as 0.5 percent against a basket of major currencies amid speculation that Spain is struggling to avoid a bailout from mounting sovereign debt. On Oct. 5, gold reached the highest in almost 11 months after the U.S. unemployment rate fell to the lowest since January 2009, easing pressure on the Federal Reserve to expand monetary stimulus.