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Gold Drops Most in Two Weeks as Volatility Reaches 11-Month High

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Gold futures fell the most in more than two weeks as a slump in oil cut the appeal of the metal as an inflation hedge. Volatility in the metal rose to the highest since January.

The gauge of 60-day historical volatility reached 18.4, the highest since Jan. 10. Aggregate trading was 22 percent lower than the average in the past 100 days for this time, according to data compiled by Bloomberg.