Monday, July 28, 2008

Profit booking in gold

  • Gold traders shift focus to currencies
  • Gold tumbled most in two months on dollar rise
  • Silver also dropped along with Gold
  • Gold slips 3% to $ 871/ounce
  • Gold posts biggest drop since April 1st
  • Gold had rallied to $ 1033/ounce between Sept 17 and March 17
  • Traders say demand for Gold still high as a bet to hedge against inflation

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