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Dollar's Gains Hit Gold Prices

Published Date: March 09, 2010
Source: online.wsj.com

Spot-gold prices slipped Tuesday, weighed by a stronger U.S. dollar against the euro and comments by a key Chinese official about gold holdings.

China's chief foreign-exchange regulator suggested future gold purchases will be limited and also said that China holding U.S. Treasurys can be mutually beneficial for China and the U.S. Spot gold was trading at $1,120.93 a troy ounce, down 0.2% from Monday's close. Gold for April delivery on the Comex division of the New York Mercantile Exchange was at $1,121.20/oz. The gold price fell around $3 following the Chinese news, but the reaction has been muted...

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