Gold, precious metals in NY fall as dollar rallies

Newswire

NEW YORK, May 19 (Reuters) - U.S. benchmark gold futures plummeted 3.8 percent on Friday morning, and other metals also sank heavily, as a stronger U.S. dollar sparked speculative liquidation in the volatile hard assets, dealers said. Silver prices approached a one-month low, palladium lost more than 10 percent at one point and platinum also retreated. Traders were unwinding short dollar holdings and switching out of metals in choppy financial markets this week, and dealers said the ...

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