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Gold Slides as Dollar Strengthens After North, South Korea Exchange Fire

November 23 2010, 09:43

FMX | Connect – www.fmxconnect.com - (Reported 11/23/2010)

Gold Slides as Dollar Strengthens After North, South Korea Exchange Fire

Source: Bloomberg

Gold declined in London as the dollar strengthened after North and South Korea exchanged artillery fire. Other precious metals dropped, led by palladium.

The dollar gained against the euro as South Korea’s Joint Chiefs of Staff said in a statement that North Korea fired “several” artillery shells into the South near the two nations’ western border. Gold, which typically moves inversely to the greenback, reached a record $1,424.60 an ounce on Nov. 9. All six main industrial metals on the London Metal Exchange fell. For full article, click here.

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