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Latest Business News

Gold Drops on Falling Energy Prices

Monday, August 28, 2006 4:49:47 PM

NEW YORK (AP) - Gold prices fell Monday, pulled down by dropping energy prices as an Atlantic storm no longer appeared to threaten Gulf coast refineries.

December gold fell $6.90 to $623.90 a troy ounce on the New York Mercantile Exchange.

"As oil came down, you're seeing some corroborative selling," said Leonard Kaplan, president of Prospector Asset Management. He cited fund selling in light summer-vacation conditions.


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