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Metals prices fall after rally on Euro worries

Metals prices fall after rally on Euro worries

Precious metals prices are falling after a midday rally, reflecting uncertainty as investors weigh the potential fallout from Europe's debt crisis.
European finance ministers signed off on $110 billion in rescue loans to Portugal on Monday, and debated giving Greece a second rescue package to avoid a disastrous default.
Gold initially rallied, but fell on worries that Greece might have to post collateral on its debt. The country might post gold as collateral, which could drive down gold prices if the collateral payments are cashed in.
Gold for June delivery fell $3 to settle at $1,490.60 an ounce. July silver 88.1 cents to settle at $34.132.
Energy prices also fell, with Benchmark oil for June delivery dropping $2.28 to $97.37 a barrel on the New York Stock Exchange.


Updated : 2021-04-14 14:11 GMT+08:00