By Glenys Sim Oct. 26 (Bloomberg) -- Gold, little changed in Asia, may gain as the dollar dropped for the first time in three days, increasing the appeal of the metal as an alternative investment. The Dollar Index, which tracks the greenback against the currencies of six trading partners including the euro and yen, fell as much as 0.4 percent today. Bullion had declined 0.4 percent in the past two days as the index climbed 0.3 percent in the same period. “The U.S. dollar will continue to drive the gold market,” said Tetsuya Yoshii, vice president for derivative products at Mizuho Corporate Bank Ltd. “After the big run up in gold prices two weeks ago, gold will probably stay around these levels before testing higher again.” Gold for immediate delivery traded at $1,055.72 an ounce at 2:21 p.m. Singapore time. The metal reached a record $1,070.80 an ounce on Oct. 14. December-delivery gold was little changed at $1,056.20 an ounce on the Comex division of the New York Mercantile Exchange. The dollar touched a 14-month low against the euro following an advance in Asian stocks and signs the global economy is recovering. It dropped from a one-month high against the yen. Among other precious metals for immediate delivery, silver and palladium were little changed at $17.68 an ounce and $336 an ounce respectively. Platinum dropped from a 13-month high of $1,377.75 an ounce on Oct. 23, trading down 0.3 percent at $1,355.75 an ounce as of 2:11 p.m. in Singapore.

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