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Gold Declines as Traders Book Profits After Advance

Gold declined in New York, trimming a monthly advance, as some traders booked profits after prices climbed to a 17-week high and amid speculation a weaker yuan may hurt demand from China.

Gold is the third-biggest gainer, after coffee and lean hogs, in the Standard & Poor’s GSCI gauge of 24 commodities this year on speculation haven demand increased after U.S. data that missed estimates added to concern the recovery may be faltering just as the Federal Reserve tapers bond buying. The precious metal is up 10 percent in 2014. China’s yuan slid the most on record and India raised the benchmark gold import price.