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Dollar pushes gold down
- US: Saturday, December 15 - 2007 at 07:43
Spot gold hit a one week low yesterday, Friday, as the US dollar continued with a recent rally, reported Reuters. The yellow metal hit a low of $787.6 an ounce, its lowest since December 6, before rallying to $792.7. Analysts say rising consumer prices in the US should boost gold's appeal as a hedge but in the very near future its direction will be governed by the dollar's performance.
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Jonathan Sheikh-Miller, Deputy EditorSaturday, December 15 - 2007 at 07:43 UAE local time (GMT+4)
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