Gold futures slumped the most in two weeks as U.S. consumer confidence climbed in May to the highest in almost six years, stoking concern that the Federal Reserve may scale back monetary stimulus.
The Thomson Reuters/University of Michigan final index of sentiment rose to 84.5, the highest since July 2007, from 76.4 a month earlier. The greenback climbed as much as 0.7 percent against a basket of major currencies as euro-area unemployment increased to a record in April. Gold has dropped 17 percent this year.
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