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Gold Posts Another Gain
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Posted on
May 22 2008 7:29 AM
by
adeal
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Gold prices lifted yet again Wednesday as the greenback shifted lower in value and the cost of crude oil soared to another record. Benchmark bullion futures gained $8.40 to settle at $928.60 an ounce on the Comex division of the New York Mercantile Exchange. The SPDR Gold Trust (GLD - Cramer's Take - Stockpickr), which holds bars of pure bullion, was tacking on 0.9%. "The U.S. dollar's prospects on the whole remain bleak and any short-term rebounds will be met with heavy selling," says Peter Spina, hedge fund advisor at GoldSeek.com.
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