Gold fell in London, after climbing the most in two weeks yesterday, as a gain in equities curbed demand for the metal as a protection of wealth.
Gold jumped 1.7 percent yesterday, the most since May 20, as U.S. manufacturing unexpectedly contracted in May at the fastest pace in four years. The dollar rebounded from a three-week low set yesterday. European equities climbed as Federal Reserve Bank of Atlanta President Dennis Lockhart said recent data suggest the economy isn’t strong enough to justify a reduction in the central bank’s bond-buying program.
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