Gold Falls Off Nine-Week High, Monday, April 16, 2007 11:11:07 AM
Gold prices dropped off of a nine-week high on Monday in the U.S. Gold for May delivery was down $1.50, down $685.40 on the day.Prices had been soaring since the switch to the April contract expired last week. The weakening dollar, which hit a two-year low against the euro and 15-year low versus the pound, has helped gold`s hedge value.
Silver fell 18.5 cents to $13.90 and palladium dropped $3.05 to $378. Copper was up just 1.4 cents to $3.546 after reaching as high as $3.60 earlier in the day. Platinum was up $3.60 to $1,290.
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posted by Kalin Tasev @ 8:48 AM
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