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Gold drops in Asia as demand for hedge against inflation wanes

Posted on 14 November 2008

From Bloomberg: Gold fell on speculation yesterday’s rally was overdone as declining commodity prices and gains in the dollar this month may reduce the precious metal’s appeal as a hedge against inflation.

Gold jumped 3.4 percent yesterday after U.S. stocks rallied 6 percent in the final hour. Still, the dollar has advanced 1.1 percent against a basket of six major currencies this month, after rising for the past four, and the Reuters/Jefferies CRB Index of 19 raw materials yesterday touched a five-year low…… Full Article: Source


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