Gold futures dropped for a second session in London following the crude oil prices
Gold futures dropped for a second session in London following the crude oil prices, reducing demand for the precious metal as a hedge against inflation.
Crude oil fell, reversing earlier gains on a forecast that Hurricane Gustav is unlikely to intensify in the Gulf of Mexico before striking land.
The metal for immediate delivery fell $US3.97, or 0.5%, to $827.18 an ounce in London. Futures for December delivery were unchanged at $US835.20 an ounce in after-hours electronic trading on the Comex division of the New York Mercantile Exchange.