Gold, silver drop as dollar strengthens

(MENAFN- Gulf Times)  Gold declined in London as a stronger dollar curbed demand for an alternative investment and amid speculation the US economy is strengthening. Silver also dropped. Gold for immediate delivery fell one per cent to $1,380.60 an ounce in morning London trading. Bullion for August delivery was 0.6 per cent lower at $1,379.80 on the Comex in New York. Silver for immediate delivery slid 1.6 per cent to $22.309 an ounce in London. Palladium was 0.6 per cent lower at $733.58 an ounce. Platinum was little changed at $1,447.38 an ounce.