Gold dropped for the first time in three sessions in New York on concern that physical purchases are declining and as a rise in the dollar reduces the appeal of the metal as an alternative asset.The All India Gems Jewellery Trade Federation said that members extended a strike for an 18th day to protest a levy on non branded gold products. The dollar gained against a basket of currencies before the Federal Open Market Committee releases minutes of its March meeting.demand isn extremely robust, as a lot of people are waiting to see if they can buy at lower prices, Matthew Zeman, a strategist at Kingsview Financial in Chicago, said in a telephone interview. Dollar is also firm, so I think we see more downward pressure on gold today.
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