Gold takes fall

SINGAPORE - Gold dropped, snapping a two-day advance, as Japan's strongest quake and a worsening nuclear accident spurred concern that the global economic recovery may be hurt, prompting a sell-off in commodities.

Immediate-delivery bullion fell as much as 1.3 percent to $1,408.07 an ounce before trading at $1,412.93 at 2:25 pm in Singapore on Tuesday. The April-delivery contract dropped 0.7 percent to $1,415.70.

Bullion climbed to an all-time high of $1,444.95 an ounce on March 7 after rallying 30 percent last year, the tenth straight annual gain, on the prospect of currency debasement and rising inflation. Palladium for immediate delivery dropped as much as 2.7 percent to $726 an ounce, while platinum decreased as much as 2.1 percent to $1,718.15 an ounce.