Gold falls for third straight day, under $1,650

Gold prices are falling for the third straight day. Gold has now lost all of the ground gained in this months rally.Gold for December delivery fell $5.80 Wednesday, less than 1 percent, to settle at $1,647 an ounce.Thats the first time gold closed below $1,650 an ounce since Oct. 7.Gold hit a record high of $1,891.90 in late August. Prices began to fall after that on worries that gold had risen too high.Gold prices rebounded this month on worries about inflation. Traders thought a big stimulus plan in Europe would make currencies less valuable. Investors often buy gold as protection against inflation.Doubts about a big European bailout have grown this week. That boosted the dollar against the euro over the last two days.