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Spot silver down 15pc, biggest loss in 5 years

NEW YORK : Silver prices posted their biggest drop since 2006 on Friday as precious metals plunged amid a broad risk ave
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NEW YORK: Silver prices posted their biggest drop since 2006 on Friday as precious metals plunged amid a broad risk aversion in commodities.

By 1:35 p.m. EDT (1735 GMT), the spot price of silver was down 15 percent and trading below $35.76 an ounce after hitting a session low of $29.77.

The last time siler had fallen that much was in April 2006, when the spot tumbled almost 16 percent.

 

Copyright Reuters, 2011

 

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