SEOUL: Gold prices in Asia fell for a third day on speculation the US Federal Reserve, the Bank of Japan and the European Central Bank (ECB) may raise interest rates, eroding the metal's appeal as an alternative investment.
Gold has shed more than US$100 since reaching a 26-year peak of US$730.40 an ounce on May 12. Yesterday, the metal fell 1% after Fed chairman Ben S. Bernanke said on June 5 that gains in measures of inflation were “unwelcome''.
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