Gold declined in London, dipping below $700, on speculation that a rally that took the metal to the highest in 26 years was exaggerated.
Gold has jumped almost 35 percent in London this year, sending the metal's 14-day relative strength index to 72.74.
Gold for immediate delivery fell $19.05 per ounce, or 2.7 percent, to $695.75 as of 9:11 a.m. in London.
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Gold Slid From 26yr Peak
Gold declined in London on speculation that its high price was exaggerated
