By Glenys Sim April 8 (Bloomberg) -- Gold dropped for the first time in four days as a stronger dollar and the metal’s rally to a three- month high encouraged selling. Bullion for immediate delivery fell as much as 0.3 percent to $1,145.50 an ounce, and traded at $1,145.80 at 10:10 a.m. in Singapore. Gold jumped to $1,153.20 yesterday, the highest level since Jan. 12, as investors sought a hedge against falling currencies. In euros, the metal reached a record 863.466 euros yesterday. The dollar gained for a third day versus the currencies of six major trading partners including the euro and yen on concern Greece may default, hampering growth in the region. Gold tends to move inversely to the U.S. currency. “We’ll see bouts of profit-taking but the uptrend is still intact as investors seek safety from uncertainties surrounding Europe’s economies,” Fu Chunjiang, an analyst at China Southern Futures Co., said from Guangdong. The euro traded near its lowest level in almost two weeks against the dollar before a European Central Bank meeting at which policy makers are expected to keep interest rates at a record low to revive growth. The currency was at $1.3324 from $1.3344 yesterday. Investors shouldn’t sell gold now as the metal may rise to “at least $2,000 by the end of the decade,” investor Jim Rogers, chairman of Rogers Holdings, said in an interview with Bloomberg Television today, reiterating an earlier forecast. Silver fell 0.3 percent to $18.1275 an ounce, palladium lost 0.6 percent to $506.75 an ounce, while platinum climbed 0.4 percent to $1,713 an ounce. To contact the reporter on this story: Glenys Sim in Singapore at gsim4@bloomberg.net

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