Gold Plunges To 6-Month Low As Key Supports Fail
Gold fell nearly 2% Friday, extending a week-long trend when several bearish factors, including a rising dollar ahead of the G20 meeting, conspired to push prices below key chart support levels. Softer investor appetite, a dearth of physical demand from China during its Lunar New Year holiday and gains in the dollar pushed gold down 3.7% this week, its biggest weekly decline since May. April gold fell $28 to $1,607.50 per ounce, a 1.71% drop. It
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