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News // Metal market

Precious Metal Go-Down

10 September 2008 , 10:49728
Gold dropped to the lowest in more than 10 months in Asia as a declining oil price reduced demand for the metal as a hedge against inflation. Gold futures for December delivery lost as much as 2.7 percent to $770.70 an ounce on the Comex division of the New York Mercantile Exchange, also the lowest since October. The contract last traded at $772 an ounce.

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