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Markets

Gold slips to session lows after Philly Fed

LONDON : Gold fell to session lows on Thursday, tumbling by about half a percent after a survey of US regional business
16 Jun, 2011

gold_copyLONDON: Gold fell to session lows on Thursday, tumbling by about half a percent after a survey of US regional business activity fell to its lowest in nearly two years, rekindling concern about the outlook for the world's largest economy and hitting risk appetite.

Spot gold fell by as much as 0.53 percent to a session low of $1,521.79 an ounce, trading later at $1,523.65, down 0.4 percent on the day after the Philadelphia Federal Reserve's index of business conditions fell to -7.7 in June from 3.9 in May, the lowest since July 2009.

 

Copyright Reuters, 2011

 

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