Gold Falls For First Day in Three as Investors Seek Out Cash

Oct. 16 (Bloomberg) -- Gold fell for the first day in three, as investors sought cash amid financial turmoil and on concerns about central bank sales of the precious metal and outflows from bullion-backed exchange-traded funds.

``Inflation concerns have also been pushed into the background'' with commodities and energy prices declining, further eroding the bullion's appeal as hedge against inflation, Moore added.