COMEX jumps to two-week high as dollar slumps

Newswire

NEW YORK, May 21 (Reuters) - COMEX gold advanced to a two-week high Friday as a weakening in the dollar prompted commodity funds to buy back short positions in precious metals, dealers said. Comments by Federal Reserve Governor Ben Bernanke late Thursday suggesting the Fed would not rush to raise interest rates knocked the dollar to two-week lows against the euro and yen, making gold cheaper overseas. "The market may have got ahead of itself relative to how aggressively the Fed might ...

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