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Coin Collecting NewsGold Falls in London After Dollar Rebounds; Silver Also Drops
Gold declined in London on signs a rebound in the dollar is slowing growth in investor demand for the precious metal. Silver also dropped.
“It’s much quieter on the ETF side,” said Wolfgang Wrzesniok-Rossbach, head of sales and marketing at Heraeus Holding GmbH, a precious metals refiner in Hanau, Germany.
Gold for immediate delivery fell $4.39, or 0.6 percent, to $738.30 an ounce at 8:34 a.m. in London, the first drop since Oct. 3. Silver declined 6 cents, or 0.5 percent, to $13.355 an ounce, also the first drop in three trading days. The dollar today traded at $1.411 a euro compared with a low of $1.4282 on Oct. 1.
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