By Pham-Duy Nguyen Sept. 9 (Bloomberg) -- Gold fell for the second straight day as investors sold the metal after the price failed to breach a record. Gold reached $1,264.70 an ounce yesterday before retreating. The all-time high was $1,266.50 on June 21. A rally in equities also curbed demand for the metal as a haven. “People are putting the risk trade back on, so we’re seeing a rebound in equities and gold lower based on that,” said Matt Zeman, a metals trader at LaSalle Futures Group in Chicago. “People are waiting to see if prices will come down before they pile back into gold.” Gold futures for December delivery fell $2.50, or 0.2 percent, to $1,255 an ounce at 9:24 a.m. on the Comex in New York. The metal gained 15 percent this year through yesterday. To contact the reporter on this story: Pham-Duy Nguyen in Seattle at pnguyen@bloomberg.net.

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