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(via Gold price hits six-month trough as dollar surges - FT.com)
Gold fell to the lowest point in almost half a year as investors exchanged the metal for more liquid dollars.
Spot gold in London fell to $1,523 a troy ounce, the weakest since July and down almost $400 from a nominal record reached this year.
The reversal has spooked investors searching for havens. The largest gold exchange-traded fund, held by individual investors and the biggest hedge funds alike, has unloaded 44 tonnes, or 3 per cent of its hoard, this month.
The latest fall came as the year ends and some traders, including banks, sought to raise cash. They turned to dollars, which Thursday rose to a 15-month high against the euro.
“When you have an environment of a stronger dollar and people looking for the most liquid thing they can put money into, that pressures gold,” said Hayden Atkins, senior analyst at Macquarie in London…
