Gold Falls in London as Stronger Dollar Curbs Investment Demand
Monday, April 8, 2013 3:15
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Gold dropped as holdings in exchange-traded products declined and the dollar climbed, curbing demand for the metal as an alternative asset.
Gold holdings in the SPDR Gold Trust, the biggest ETP backed by bullion, fell 0.9 metric ton to 1,205.31 tons as of April 5, the lowest since June 2011. The U.S. Dollar Index (DXY), a gauge against six major counterparts, rallied as much as 0.4 percent today as the yen dropped to the lowest level since 2009.
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