June 19 (Bloomberg) -- Gold, little changed, headed for the longest weekly declining streak in two months as the dollar rallied, eroding demand for the metal as a haven investment. Assets held by the SPDR Gold Trust, the biggest exchange- traded fund backed by bullion, have remained unchanged at 1,132.15 metric tons since June 5, according to figures on the company’s Web site. That is the longest period without a rise or fall since Oct. 27 to Nov. 11. “Gold’s had its big run as a safe haven relative to the other commodities,” Justin Smirk, senior economist at Westpac Banking Corp., said by phone from Sydney today. “In the short term, gold won’t be tracking far from where we are now, unless there’s some massive new shock.” Gold for immediate delivery was at $933.40 an ounce at 3:01 p.m. in Singapore, 0.6 percent lower this week. The metal is heading for a third weekly drop, the longest declining streak since April 17. The Dollar Index, a six-currency measure of the greenback’s value, added 0.5 percent this week as a drop in global equities encouraged demand for safety. The regional benchmark MSCI Asia Pacific Index is poised for its first weekly drop in five weeks. “Gold’s relationship with the dollar depends on what’s driving the U.S. dollar,” said Smirk. “If there’s risk aversion behavior, then the dollar will go up and gold will go up as well.” Among other precious metals for immediate delivery, silver added 0.2 percent to $14.24 an ounce. Platinum gained 0.2 percent to $1,210.20 an ounce, and palladium added 0.4 percent at $241.45 an ounce.

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