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NEW YORK (AP) - Gold prices shed more than $1 Tuesday after Federal Reserve Chairman Ben Bernanke forecast a return to faster paced economic growth later this year — forcing investors to scale back expectations for an interest rate cut.
Elsewhere in the commodities markets, energy and industrial metals prices declined while agriculture futures finished mixed.
Gold gave up $1.20 to settle at $675.10 an ounce on the New York Mercantile Exchange. A falling U.S. dollar helped stem additional losses.
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