Gold Declines Third Time in Four Days as Haven Demand Wanes
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Gold declined for the third time in four sessions as a rebound in emerging-market currencies slowed demand for the precious metal as an alternative investment.
South Africa’s rand and Turkey’s lira strengthened against the dollar. Both currencies weakened more than 6 percent versus the greenback this year through yesterday. The Standard & Poor’s GSCI Spot Index of 24 commodities rose for the first time in four sessions. Gold climbed 3.1 percent last month.