Gold prices decline after U.S. funds banks with $250 billion

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Tue, Oct 14, 2008

Gold Market News
Post by Melissa Pistilli, Gold Reporter

Bloomberg.com reports gold fell for 4th time today after the U.S. agreed to spend $250 billion to rescue banks.

Stocks in the U.S., Europe and Asia rose for a second day after Treasury Secretary Henry Paulson announced plans to buy stakes in financial firms to ease the lending crisis. Gold fell 1.9 percent yesterday as the Standard & Poor’s 500 Index soared 12 percent.

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