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16-May2011

Gold Rates Reduce On Dollar Come back, US Inflation Data

Gold rates reduced on Monday, after the United states dollar click a 6 week higher level in opposition to the euro among increased concerns over Greece`s economic debt problems. A key European union finance ministers discussion is planned later in the worldwide day to talk about a bailout policy for Portugal and quell conjecture regarding Greece`s debts restructuring. The wilt in yellowish material rates was also on the back of United states inflation details which indicated that people are experiencing well informed in the United states financial state and that inflation stays in check.

Gold commodities for June supply lowered 0.1% to $1,492 an oz on Comex section of NYME , whereas the spot yellow metal rates drop 0.1% to $1,491.45 an oz.

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