Gold extends decline as demand from jewellers may slow

London, Jul 26. Gold today extended declines on speculation that higher prices will curb demand from jewellers. Gold dropped 0.4 per cent to USD 1,329.31 an ounce and silver retreated 0.8 per cent to USD 20.09 an ounce. Prices have climbed for three weeks as US Federal Reserve Chairman said it’s too early to decide whether to scale back on stimulus to boost the economy. Physical purchases of gold have slowed in the past two weeks as higher prices deterred demand, Standard Bank Group Ltd said.