Tuesday, 17 May 2011
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Gold Declines to One-Week Low as U.S. Housing Data Damps Commodity Outlook
Gold futures fell to a one-week low as signs that the U.S. economy is slowing eroded the appeal of commodities. Silver dropped more than 2 percent. Housing starts declined unexpectedly in April, and any recovery in construction may take years because unemployment is lingering around 9 percent and wages are stagnant. The Thomson Reuters/Jefferies CRB Index of 19 raw materials dropped for the
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