Gold Falls in N.Y. as Dollar Strengthens, Curbing Haven Demand

By Ted Bunker

July 6 (Bloomberg) -- Gold prices declined in New York as the dollar strengthened, reducing demand for the precious metal as a way to preserve value.

Gold futures for August delivery sank $7.70, or 0.8 percent, to $923.30 an ounce at 8:20 a.m. on the New York Mercantile Exchange’s Comex division. The U.S. Dollar Index, a six-currency gauge of the greenback’s value, rose as much as 0.6 percent in New York.