Gold dropped for the first time in four days as optimism that the U.S. economy is recovering and lawmakers will reach a budget deal damped demand for the metal as a protection of wealth. Platinum and palladium advanced.
It lost 2.3 percent last week, the most since the period to June 22, after data showed that consumer spending, durable-goods orders and industrial output increased in November. A separate report showed the largest economy grew at a 3.1 percent annual rate last quarter, exceeding all projections in a Bloomberg survey.
http://www.bloomberg.com/news/2012-12-26/gold-declines-on-u-s-economic-recovery-budget-deal-optimism.html
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