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Gold Prices Rally

October 31, 2007

Gold barreled closer to the $800 mark Wednesday, as the dollar sagged to freshlows and energy prices surged on concerns about tightening crude supplies. With the Federal Reserve’s decision on interest rates looming, the dollar stumbled to another low against the euro and raised the allure of precious metals as investment alternative. The euro, which hit a high for the fourth straight trading day, bought a record $1.4466 in early trading; gold prices hovered at a 27-year peak.

Written by Ernie · Filed Under Gold News 

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