Gold drops as dollar firms, equities retreat

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CHICAGO, Nov 5 (Xinhua): Gold futures on the COMEX Division of the New York Mercantile Exchange lost 0.5 per cent Friday, pressured by the newly-gained strength in US dollar, weakness in stocks market and investors' profit-taking. The most active gold contract for December delivery dropped 9 dollars, or 0.5 per cent, to 1,756.1 dollars per ounce. A trader said equity and other risk assets dropped on Friday, as many investors are reluctant to take risks ahead of Friday's confidence vote in Greek government after a week of dramatic developments in the debt-beleaguered nation. Dollar regained some steam on Friday as investors feared that further turmoil in Greece could jeopardize Europe's plans for containing its quickly spreading debt crisis.