Gold is falling as the dollar advances, diminishing the precious metal's appeal as an alternative investment.

The actively traded August contract for gold fell $14.70, or 1 percent, to $1,397.20 an ounce.

Gold has dropped 17 percent this year as the dollar and U.S. stocks have rallied, reducing demand for safe-haven assets.

Other metals prices also fell.

Palladium, silver, and platinum dropped. Only copper bucked the trend, rising 1.2 percent.

In agricultural futures trading, wheat for July delivery was little changed at $7.09 a bushel.

Corn for the same month rose 4.75 cents, or 0.7 percent, to $6.6050 a bushel.

The price of crude oil fell 14 cents, or 0.1 percent, to $93.31 a barrel.

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