Gold Declines First Time in Three Days Before EU Summit

Gold futures declined for the first time in three days as Chinese data signaled improving economic growth, easing pressure on the government to announce measures to boost expansion.

China’s industrial production, retail sales and fixed-asset investment accelerated in September after a seven-quarter slowdown. European Union leaders are meeting in Brussels for two days starting today. Gold surged 11 percent in the last quarter after the U.S., Japan and the European Central Bank enacted measures to stimulate growth, increasing demand for the precious metal as an inflation hedge.