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Gold drops on weaker US dollar Fame it!
Posted on Dec 05 2008 5:07 AM by adeal

Gold recovered lost ground today, helped by the European Central Bank's bigger-than-expected interest rate cut, which pressured the US dollar lower. Spot gold was fetching $US768.30 a ounce versus $US767.70 late on Thursday. Gold found some support via the weaker US currency, which fell against the euro on Thursday as some investors lauded a bolder-than-expected interest rate cut by the ECB as a proactive step to stave off a deep recession in the 15-nation region.



Full story: business.smh.com.au
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