Gold decline 0.2%

Gold decline as European equities rise for a third day,cutting demand for the metal.

Gold today decline as European equities rise for a third day,cutting demand for the metal as an alternative investment.

Gold fell USD 4.20,or 0.2 per cent to USD 1,825.60 an ounce on the Comex,after rising 2.1 per cent yesterday.

The metal in futures trade rose 12 per cent this month,the most since November 2009,and reached a record USD 1,917.90 on August 23.

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Bullion advanced yesterday after a statement showed some Federal Reserve policy makers favoured more aggressive action to stimulate the economy during their August 9 meeting and data showed consumer confidence slumped. European equities climbed to the highest level in almost two weeks.

Minutes of the Fed meeting showed policy makers favoured more substantial measures to boost the US economy than the current pledge to hold rates at a record low for the next two years. While Fed policy makers meeting this month didnt anticipate a recession,several said the recovery was still somewhat tentative and was vulnerable to adverse shocks. Silver also fell 0.4 per cent to USD 41.29 an ounce,cutting its gain to 3 per cent this month.