SINGAPORE: Gold fell further on Monday after posting its worst closing since June last week but bargain hunters could cushion the fall, while escalating worries about Europe's ability to resolve its debt crisis sent bullion-priced in euro to record.
Fears about a Greek default rose after senior politicians in German Chancellor Angela Merkel's centre-right coalition started talking openly about it following Juergen Stark's surprise departure at the European Central Bank last week.
Spot gold eased $8.87 to $1,848.29 an ounce by 0233 GMT, well below a lifetime high around $1,920 struck last week, with speculators still cashing in on the metal to cover losses in equities.
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