Gold traded little changed at less than $900 an ounce in Asia as gains by the dollar eroded demand for the metal as a store of value. Gold slipped as much as 0.2 percent as the dollar rose for a second day against the euro on speculation the European Central bank will cut interest rates tomorrow to revive economic growth. Bullion reached a one-week high of $916.09 an ounce yesterday on speculation a U.S. government report may show some banks need to raise more capital. “While the metal drew interest from the weakening U.S. dollar and the pending results for the stress test, the rally appeared tired,” RBC Capital Markets traders led by Alex Heath said in an e-mail. “Many players seized the opportunity to realize some gains and reduce risk.” Bullion for immediate delivery traded at $898.05 an ounce, up 90 cents, at 9:05 a.m. Singapore time. U.S. stocks fell for the first time in three sessions yesterday as speculation grew that the government stress tests will show some banks need more funds. About 10 of the 19 lenders need additional capital to weather a deeper recession, people familiar with the matter said. The dollar last traded at $1.33 per euro from $1.3330 in New York yesterday. Among other precious metals for immediate delivery, silver gained 0.2 percent to $13.3675 an ounce, palladium rose 0.5 percent to $221 an ounce, and platinum fell 0.3 percent at $1,130.75 an ounce.

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