By Rachel Graham Oct. 16 (Bloomberg) -- Gold declined in London for the first time in three days as investors sold the metal to raise cash. Platinum fell to the lowest since September 2005. UBS AG, Switzerland's biggest bank, was forced into a $59.2 billion government bailout. Credit Suisse Group AG raised 10 billion francs ($8.8 billion) from private investors including the Qatar Investment Authority and announced a third-quarter loss. ``Cash liquidity is still very tight,'' James Moore, a London-based analyst at TheBullionDesk.com said by phone. ``In the short term, the view is negative.'' Gold for immediate delivery fell $10.69, or 1.3 percent, to $836.21 an ounce as of 9:40 a.m. in London. Gold futures for December dropped $1.60, or 0.2 percent, to $837.40 an ounce in electronic trading on the Comex division of the New York Mercantile Exchange. Platinum for immediate delivery slid as much as $68.50, or 7.1 percent, to $900 an ounce, the lowest since Sept. 5, 2005. It last traded at $916.90 an ounce. Investec Securities cut its 2009 average forecast for the metal to $1,350 from $1,975, and lowered the 2010 estimate to $1,675 from $1,900. ``We have serious concerns that the price could fall further in the near term,'' Investec analysts led by Rebecca O'Dwyer wrote in a report dated yesterday. ``We remain bullish on platinum group metals on a long-term view, with emissions legislation and growth in emerging markets driving demand.'' Among other metals for immediate delivery, silver fell 41.5 cents, or 4 percent, to $9.875 an ounce and palladium lost $5.75, or 3 percent, to $187 an ounce. To contact the reporter on this story: Rachel Graham in London at rgraham13@bloomberg.net

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