Gold declined for the first time in four days in London as a stronger dollar curbed demand for the metal as an alternative investment.
The dollar gained versus the euro before data that economists said will show industrial production dropped in Germany and after Standard & Poor’s revised the outlook on Greece’s sovereign rating to negative from stable. The Bank of Japan (8301) started a two-day policy meeting today amid speculation it may take steps to drive interest rates lower.
“Bullion continues to trade with the single currency with little physical interest,” Andrey Kryuchenkov, an analyst at VTB Capital in London, wrote today in a report. “So far, gold has failed to attract any safe-haven inflows, instead trading as any other risk asset and in line with the broader market sentiment.”
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Weak regi
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On Thursday, the overnight rate s
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