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<Commodity>Gold Falls 3% to 1-Wk Low; Silver Tumbles 10%
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Spot gold prices retreated by over 3% on Thursday, as strong US labor market data dampened market expectations for a Fed rate cut in the near future, offsetting the safe-haven demand triggered by geopolitical tensions between the US and Iran. Spot gold dropped by USD162.2 or 3.2% to a nearly one-week low of USD4,922.2 per ounce. Gold futures for April delivery fell by USD150.1 or 2.9% to USD4,948.4 per ounce. Silver futures for March delivery tumbled by 9.8% to USD75.682 per ounce. Copper futures for March delivery slipped by 3% to USD5.7855 per pound. Platinum futures for April delivery ebbed by 5.8% to USD2,021.7 per ounce. Palladium futures for March delivery fell by 4.9% to USD1,656.7 per ounce. AAStocks Financial News |
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