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Gold prices drop sharply as Swiss referendum nears
Gold prices took a dive on Friday as the market geared up for what could be the metal’s own OPEC moment — when Switzerland will vote on whether its central bank should hold more gold and bring back its other gold reserves held in places like Canada and the U.K. All commodities were getting hammered Friday, with crude oil prices plunging to levels not seen since May 2010 after OPEC decided to leave its production levels unchanged. December gold GCZ4, -2.48% fell $14.70, or 1.2%, to $1,181.90 an ounce, while silver SIZ4, -6.94% slid 58 cents, or 3.5%, to $16.04 an ounce. U.S. markets took a holiday on Thursday, and ... (full story)
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