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Gold falls to $1,500, lowest since July 2011

by on April 13, 2013

The Young Raging Bull

Gold futures notched their biggest one-day fall in more than a year during Friday’s trading session.

Gold for June delivery plunged $63.50 to close at $1,501.40 an ounce, the largest drop since February 2012. It was the lowest price since July 2011.

Gold peaked at $1,900 an ounce in August 2011, during the market turmoil that occurred after Standard & Poor’s downgraded the U.S. government’s credit rating. It has more recently traded as high as $1,792 an ounce on Oct. 4. Since then it has fallen $291 an ounce, or 16 percent.

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