Gold
futures declined for a third straight day as gains in equities curb
demand for the precious metal as an alternative investment.The Dow Jones Industrial Average rose as much as 0.6 percent, near a record reached last month, before the close of gold trading in New York. Gold slumped 28 percent last year amid a rally in equities and as inflation remained low.
Gold futures for June delivery fell 0.1 percent to settle at $1,287.70 an ounce at 1:34 p.m. on the Comex in New York. Prices declined 1.6 percent in the previous two sessions. Trading was 13 percent below the average for the past 100 days for this time, data compiled by Bloomberg showed.
Bullion has gained 7.1 percent this year, partly as tension over Ukraine spurred demand for haven assets. Russian President Vladimir Putin said his country��s army is testing its combat readiness, ramping up tensions after he pledged a pullback from Ukraine��s border. Pro-Russian separatists in Ukraine vowed to press ahead with autonomy votes.
Source : Bloomberg
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