Gold traded
near a four-month low in London as investors weighed gains in equities and the
dollar against speculation the drop may spur more buying.
The metal’s
drop took it below a technical level that suggests to some that prices may be
poised to rebound.
Gold steadied on
Tuesday after a five-day losing streak but was still trading near its lowest
level in four months as stronger equities dented the metal's investment-hedge
appeal.
Spot gold edged up
0.2 per cent to $1,246.00 an ounce by 0645 GMT. The five-day decline before
Tuesday is the metal's longest losing streak in nearly seven months.
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