PRECIOUS-Gold slides as macro worries lift dollar

LONDON, Oct 18 (Reuters) - Gold fell on Tuesday after evidence of slowing Chinese growth and mounting worries over the euro zone following a warning from a ratings agency over France's triple-A credit rating weighed on the commodities complex and boosted the dollar.

Moody's Investor Services warned France's top-notch credit rating could be at risk if the cost of bailing out banks in the euro zone's second-largest economy stretches its budget too much, while a reading of German business confidence fell to its lowest in nearly three years this month.

The Chinese economy expanded at its slowest pace in two years in the third quarter of this year, which compounded fears that growth in the emerging world may be insufficient to offset slowing developed economies in Europe and the United States.

Adding to the anxiety over the euro zone ahead of a key summit on Oct. 23, German finance minister Wolfgang Schaeuble doused optimism over the ability of EU leaders to find a lasting solution to the debt crisis at the meeting, which further curbed investor appetite for risk.

Source; http://af.reuters.com/article/metalsNews/idAFL5E7LI0UG20111018