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U.S. gold falls 3 pct to $914 on dollar rise, crude drop

Fri Apr 18, 2008 6:18pm IST
 
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NEW YORK (Reuters) - U.S. gold futures sank 3 percent on Friday, pummeled by a combination of a dollar rise, a crude oil drop and an upbeat outlook for global stock markets, dealers said.

At 8:31 a.m. EDT (1231 GMT), the active gold contract for June delivery on the COMEX division of the New York Mercantile Exchange was down $24.60 or 2.6 percent at $918.30 an ounce. Just minutes earlier, it had bottomed at $914 which marked its lowest level since April 9.

Russian Finance Minister Alexey Kudrin poses with his G20 colleagues and central bank leaders during the family photo at the G20 Finance Ministers meeting at a hotel in St. Andrews, Scotland. REUTERS/POOL New
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