(Bloomberg) -- Gold and silver fell in New York as a gain in the value of the dollar against the euro reduced the appeal of the precious metals as alternative investments.
Gold has moved in tandem with the euro 74 percent of the time in the past year, Bloomberg data show. Gold reached an 11-month high on April 20 as the euro was headed toward an April 27 record against the dollar. Before today, the metal has climbed 5.7 percent this year while the euro has gained 3 percent against the dollar.
Read more at Bloomberg Commodities News
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