Gold dropped almost 2 per cent Tuesday, hitting an eight-day low as the U.S. dollar rose after unexpectedly strong April core U.S. retail sales figures robbed bullion of some of its appeal as an alternative investment. Gold's weakness spurred selling in other precious metals. Platinum was down more than 3 per cent at one point – the day after it jumped to its highest level in almost two months on speculative buying following the launch of U.S. platinum exchange-traded notes.

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