Spot gold falls below $1,500 first time in 5 weeks

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Author: REUTERS

Friday 24 June 2011

NEW YORK: Spot gold dropped below $1,500 an ounce on Friday for the first time in over a month, weighed down by a dollar rally, technical selling and accelerated losses in the equity and crude oil markets.

Bullion dropped 1.3 percent to $1,501.06 an ounce by 1:13
p.m. EDT (1713 GMT), having earlier hit a low of $1,499.56, the weakest price
since May 20.

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