London — Gold fell on Tuesday from the previous day’s four-month high, reflecting losses across precious metals and commodities more widely, as the dollar clawed back some lost ground after hitting a three-year low against a currency basket. Gold’s move lower abruptly ended four straight days of gains in the metal after the retreat of the dollar, in which it is priced, made it cheaper for holders of other currencies. Spot gold was down 0.4% at $1,334.55 an ounce at 10.30am GMT, while US gold futures for February delivery were 10c an ounce lower at $1,334.80. "Dollar weakness has calmed down, and that is one reason why gold is retracing lower," ABN Amro analyst Georgette Boele said. "It went up quite quickly up at the start of the year, and I think it was a bit overstretched. In general, the precious metals complex and other commodities are facing downwards today. There is a bit of profit-taking, and also a lot of it is linked the dollar weakness, which came to a halt." The dollar ro...
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