Gold declines to five-week low as stronger dollar curbs demand

London, Feb 12 (Bloomberg) Gold today declined to a five-week low as a stronger dollar curbed demand for the metal as an alternative investment. Gold fell 0.3 per cent to 1,643.18 dollar an ounce. Prices are down for a fourth day and reached 1,641.66 dollar, the lowest since January 4. Silver fell 0.8 per cent to 30.71 dollar an ounce. The US Dollar Index, a measure against six currencies, rose for a fifth day, reaching a one-month high. US Treasury under-secretary Lael Brainard said that Group of 20 nations need to "refrain from competitive devaluation". North Korea conducted a nuclear test today. Markets in China, Kong Kong and other Asian countries are closed for Lunar New Year holidays. Bullion rose for a 12th straight year in 2012 as nations from the US to China pledged more steps to boost economies. Brainard also said that she supports efforts in Japan to end deflation and reinvigorate growth. G-20 finance chiefs and central bankers are due to meet in Moscow on February 15. Holdings in gold-backed exchange-traded products fell 3.7 metric tons to 2,611.4 tons. Assets are about 0.8 percent below the December 20 record. (Bloomberg) RS MR 02121719 NNNN