Gold Continues to Fall on Massive Sales

Gold fell in London for a fourth consecutive day as some investors sold the metal to cover stock- market losses and a stronger dollar made it a less attractive hedge. Silver snapped a three-day decline.

Stocks in Europe and Asia fell on speculation a global credit crunch will erode economic growth. Gold has climbed 4.4 percent this year while the benchmark FTSE 100 Index has dropped 3.7 percent.

Gold for immediate delivery dropped $2.10, or 0.3 percent, to $665.50 an ounce as of 9:57 a.m. in London. Silver rose 1 cent, or less than 0.1 percent, to $12.50 an ounce.