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Gold, copper fall sharply as dollar rises vs. euro

Posted on 22 October 2008

From Washingtontimes.com: Gold and copper prices tumbled sharply Tuesday after the dollar gained ground against the euro, knocking a key peg of support from under precious metals and other commodities.

The dollar rose to its highest level since March 2007 against the European currency as investors seeking safe, liquid assets flocked to the greenback. A stronger dollar typically prompts investors to shed commodities bought as a hedge against inflation or weakness in the U.S. currency….. Full Article: Source


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