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Gold prices decline after U.S. funds banks with $250 bln

Posted on 15 October 2008

From Bloomberg: Gold fell for the fourth straight session after the U.S. agreed to spend $250 billion to rescue ailing banks. Silver climbed.

Stocks in Europe and Asia rose for a second day after Treasury Secretary Henry Paulson announced plans to buy stakes in financial firms to ease the lending crisis. Gold fell 1.9 percent yesterday as the Standard & Poor’s 500 Index soared 12 percent…… Full Article: Source


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