Gold Heads for Biggest Weekly Drop in Over 25 Years on Dollar

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Gold Heads for Biggest Weekly Drop in Over 25 Years on Dollar

Gold headed for its steepest weekly decline in more than a quarter-century in London as the rising dollar curbed investor demand for the precious metal.

Bullion has declined 13 percent in the past week, the biggest drop since the week ended March 14, 1980, as the dollar rose to a 23-month high against the euro and a 5 1/2-year high against the pound.

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