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NEW YORK (AP) - Gold prices plummeted Friday as the U.S. dollar rose against other world currencies.
The commodities markets suffered broad declines. Crude oil prices shed more than $2, corn and soybean futures settled lower while most of the industrial metals posted losses.
A shifting view on the direction of the Federal Reserve's benchmark interest rate roiled the commodities markets this week. Increasingly bullish economic data and recent comments from Fed Chairman Ben Bernanke have quashed market hopes for an interest rate cut sometime this year.
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