Gold fell almost 1 percent on Wednesday on new worries about Europe's economy and as technical resistance prompted investors to take profits after the previous session's rally. Spot gold was down 0.7 percent at $1,732.49 an ounce by 2:44 pm (1944 GMT). US gold futures for April delivery settled down $17.10 an ounce at $1,731.30. Volume was about 25 percent below its 30-day average but in line with its recent trading pace.
The gold-silver ratio, which measures how many ounces of silver is needed to buy an ounce of gold, hovered above 51, its lowest level in three months. For most part of 2011, the ratio was below 46, compared to a near 30-year average of 64. Spot silver fell 0.7 percent to $33.89 an ounce. Platinum prices were up 1.4 percent at $1,644.48 an ounce, while palladium inched down 2 cents at $702.95.
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