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Gold and silver plunge to lowest levels in three years

Published on Jun 22, 2013 8:42 AM
 
Photo of gold bars at the Czech National Bank in Prague on April 16, 2013. All that glitters currently is neither gold nor silver, as both precious metals have sunk to their lowest levels in nearly three years. -- FILE PHOTO: REUTERS

All that glitters currently is neither gold nor silver, as both precious metals have sunk to their lowest levels in nearly three years.

The chief culprit has been the impending slowing down of the United States Federal Reserve's massive money-printing programme.

Gold prices are expected to fall further, said experts, as the US dollar is tipped to strengthen and the economy there recovers.

Traditionally, gold's lustre comes from investors seeing it as a safe refuge during times of global economic uncertainty, and as a guard against inflation.

 
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