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Gold Boosted by Weaker Dollar

Friday, May 04, 2007 3:24:44 PM

NEW YORK (AP) - A softer U.S. dollar following a disappointing jobs report Friday provided the fuel for gold to continue its rally.

June gold settled up $5.30 at $689.70 a troy ounce on the New York Mercantile Exchange. July silver settled up 2 cents at $13.53.

"This is very much a dollar story," said Bart Melek, global commodities strategist with BMO Capital Markets.


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