Gold hastens retreat, dips below US$2,000 on firm dollar

Spot gold was down 1.1% at US$2,004.61 per ounce by 0727 GMT after falling as much as 1.9% earlier, accelerating a retreat from a record high of US$2,072.50 hit last week.

BENGALURU: Gold fell more than 1% on Tuesday, breaking below the US$2,000 level for the first time in a week, as the dollar's relative value against other currencies strengthened and spurred investors to lock in profits following a record run.

Spot gold was down 1.1% at US$2,004.61 per ounce by 0727 GMT after falling as much as 1.9% earlier, accelerating a retreat from a record high of US$2,072.50 hit last week. U.S. gold futures fell 1.3% to US$2,013.10 per ounce.