(Bloomberg) -- Gold in New York fell on speculation that a six-week rally to the highest prices in almost a year has made the metal too expensive. Silver also fell.
Before today, gold had climbed 7.1 percent in six consecutive weekly gains. The metal earlier reached $693.30, the highest price since May 18, 2006. The seven-day relative strength index reached 71 today, a signal to traders that prices are poised to fall.
Read more at Bloomberg Commodities News
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