SPDR gold ETF posts fresh outflow Gold (GC-FT 931.70 -7.40 -0.79%) eased in Europe on Wednesday as the U.S. dollar firmed, prompting losses across commodities, with currencies seen as higher risk coming under heavy selling pressure after recent gains. The precious metal has risen from a low of $932.70 (U.S.) an ounce, however, as the dollar pared gains after European markets reversed initial losses to tick higher. Spot gold was bid at $936.35 an ounce at 0822 GMT, against $936.65 an ounce late in New York on Tuesday. U.S. gold futures for August delivery on the COMEX division of the New York Mercantile Exchange slipped $2.50 to $936.60 an ounce. Precious metals fell along with many other commodities, such as oil (CL-FT 65.32 -1.91 -2.84%) , copper and zinc, after a 5 per cent slide in Chinese equities dented risk appetite and lifted the dollar against a basket of currencies. “The dollar is seen as a safe haven, so if… people feel assured about recovery, they are happy to sell the dollar and buy risk assets such as commodities,” said Citigroup analyst David Thurtell. “If you have wobbles over China, the dollar picks up, and commodities come off,” he said. Chinese stocks dropped 5 per cent on Wednesday, their biggest daily drop in eight months, amid worries banks were set to restrict lending. European shares also opened lower, though they later clawed back losses…

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