(Bloomberg) -- Gold fell in London for a second
consecutive day after a decline in crude oil reduced the appeal
of the precious metal as a hedge against inflation. Silver
dropped to a five-week low.
Bullion sometimes moves in the same direction as oil, which
today declined as much as 0.6 percent on expectation that demand
from refineries may wane. Demand for gold usually slows in May
and June as jewelers in Italy, Europe's biggest manufacturer of
gold products, prepare for holidays, World Gold Council Chairman
Pierre Lassonde said earlier this month.
Read more at Bloomberg Commodities News
consecutive day after a decline in crude oil reduced the appeal
of the precious metal as a hedge against inflation. Silver
dropped to a five-week low.
Bullion sometimes moves in the same direction as oil, which
today declined as much as 0.6 percent on expectation that demand
from refineries may wane. Demand for gold usually slows in May
and June as jewelers in Italy, Europe's biggest manufacturer of
gold products, prepare for holidays, World Gold Council Chairman
Pierre Lassonde said earlier this month.
Read more at Bloomberg Commodities News
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