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News Link • Precious Metals

Gold dips as stocks plunge, econ worry hurts PGMs

• Reuters

Spot gold fell more than 1 percent to two-week lows as investors sold to cover losses in other markets, especially as stocks dipped, while platinum group metals fell on worries euro zone debt crisis will sap industrial demand.

Asian stocks were down, with Japan's benchmark Nikkei average sliding more than 3 percent and hitting a five-month low as exporters were hurt after the yen strengthened against the euro on worries about disunity among euro zone leaders on how to address the region's debt crisis.

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