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Gold down in commodities rout

Posted on 21 October 2011

Gold futures extended their slump for a fourth day this morning, ending at a three-week low as pessimism about a potential quick fix to the eurozone’s debt crisis had investors favouring holding cash instead of precious metals.
German Chancellor Angela Merkel cancelled a statement scheduled for today ahead of an upcoming European Union summit. The news added to worries the summit may not result in a credible deal outlining how to deploy the currency union’s rescue fund and weighed on the euro………………………………………..Full Article: Source


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