Falling the gold in New York.

Gold fell in New York, peel a weekly gain, as a stronger dollar curbed demand for the metal as an alternative investment. Other precious metals fell.

The dollar rose against the yen as North Korea's state Korean Central News Agency said planned naval exercises in South Korea and the U.S. moved from the peninsula closer to the brink of war. " The dollar rose to a two-month high against the euro amid concerns of European sovereign debt burdens are getting worse. Gold, which reached a record $ 1424.30 an ounce on 09 November, usually moves inversely to the U.S. currency.

"The bullion prices have been under pressure as a result of decreased sensitivity to risk," said James Moore, analyst at TheBullionDesk.com in London, in a report. However, gold may "continue to be supported by investment bargain hunting as investors seek to diversify the volatile macro-economic context and geopolitical."

Gold futures for February delivery lost 13.60 dollars, or 1 percent, to $ 1,361.40 an ounce at 8:01 am on the Comex in New York. Prices have risen 0.7 percent this week. Floor trading was closed yesterday for Thanksgiving in the U.S. and electronic commerce are booked today for settlement purposes. The metal for immediate delivery in London was 1.1 percent, to $ 1,360.60.

Bullion fell to $ 1,366.50 an ounce in the morning "fix" in London, used by some mining companies to sell production, from $ 1,373.25 in the afternoon yesterday fixing.

Ireland Rescue

The financial costs of the most indebted countries in the euro region are rising acceptance of Ireland as a rescue of its banking sector fuels speculation that other countries will have to seek help. The Financial Times Deutschland reported that those responsible for the euro area policy are pushing to Portugal to seek help from a 750 million euros (991 billion U.S. dollars) bailout fund. The country is not being pressured to use the facility, an official in the office of Prime Minister Jose Socrates said.

Irish Finance Minister Brian Lenihan said yesterday that while the size of a rescue of the European Union and the International Monetary Fund has not yet been determined, an amount of about 85 million euros "mentioned." The government said this week that will reduce spending by 20 percent and raise taxes in the next four years.

"We are following the euro, to some extent and the euro has become a weak point," said Darren Heathcote, head of trading at Investec Bank (Australia) Ltd. The Korean War "is still on the back of the head people. There is a possibility of new conflicts and is helping to support gold. "

"Confrontation Staggered"

President Barack Obama has sent an aircraft carrier to participate in military exercises in the Yellow Sea in a show of strength after North Korea this week bombed a South Korean island. North Korea warned that any "confrontation escalated" will lead to war, KCNA, said in an emailed statement.

explosive shots coming from the direction of North Korea, were heard in South Korea Yeonpyeong Island today, said a spokesman for South Korea's Joint Chiefs of Staff who declined to be identified, citing military policy. The Army is investigating, he said.

Eleven out of 15 traders, investors and analysts surveyed by us, or 73 percent, said the metal will rise next week. A forecast of lower prices and three were neutral.

Silver for March delivery in New York fell 3.1 percent to $ 26.75 an ounce. It peaked at $ 29.34 30 years on November 9 and 59 percent this year.

Platinum for January delivery was 0.9 percent, to $ 1643.20 an ounce. Palladium for March delivery fell 4.1 percent to $ 669.10 an ounce.