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Gold Falls for Third Day on U.S. Inflation, Housing Data

Gold futures fell for the third straight session as a U.S. inflation gauge showed price pressures remain limited and housing starts jumped, crimping demand for the precious metal as an alternate investment.

In July, the cost of living climbed at the slowest pace in five months, and beginning home construction jumped almost 16 percent, the highest in eight months, separate reports showed today. Last year, gold slumped the most in three decades amid a rally in equities and muted inflation.