Gold Fell at 2 Week Low

Gold fell in Asia to a two-week low amid speculation the fall in the dollar has spurred demand for U.S. equities as an alternative investment to gold.

Gold prior to this week had risen for eight consecutive weeks as the dollar fell and touched a record low on April 25.

Gold yesterday had its biggest one-day drop in eight weeks, falling 1.7 percent, as the Dow Jones Industrial Average rose to a second straight record as the weaker dollar boosted the appeal of U.S. equities for foreign investors.

Gold for immediate delivery fell as much as $3.60, or 0.5 percent, to $671.15 an ounce and traded at $672.14 at 12:07 p.m. Sydney time.