Spot gold fell as much as 0.5 percent to $1,338.60 an ounce, and traded at $1,341.51 at 2:27 p.m. in Singapore, after rising 5.4 percent in the four days through yesterday. Prices earlier gained to $1,348.65, the highest since June 20. The Bloomberg U.S. Dollar Index, which tracks the greenback against 10 currencies, added 0.2 percent following three days of losses.
Gold has risen 8.7 percent in July, set for the best month since January 2012, as the Bloomberg Dollar Index dropped 1.1 percent, after U.S. Federal Reserve Chairman Ben S. Bernanke indicated that it’s too early to decide whether to begin scaling back its quantitative-easing program in September. Assets in the SPDR Gold Trust, the largest bullion-backed exchange-traded product, fell for a sixth day yesterday to 929.76 metric tons, the least since February 2009.
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