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« Will India Stop Buying Gold? | Main | ETFs: Do You Really Know What You're Buying? »
Thursday
Mar292012

Gold extends losses

Gold prices fell below $1670 US an ounce on Wednesday, extending the previous day's retreat from a two-week peak.

Comex gold futures for April delivery closed down $27.20 to close at $1,660.50 an ounce.

The sell off is being blamed on weak U.S. economic data. Jeffrey Christian, Managing Director of CPM Group, tells BNN gold should trade in a range between $1,600 and $1,790 an ounce for the rest of this year.

"We expect gold prices to average slightly higher as investors buy on these dips," Christian tells BNN.

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