Gold Prices Drop to 16-Week Low
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Gold prices sank to their lowest level in 16 weeks as worries about political friction in Eastern Europe subsided and amid signs that the U.S. economy continues to recover from a winter slowdown.
The most actively traded contract, gold for August delivery, fell $2.60, or 0.2%, to settle at $1,257.10 a troy ounce on the Comex division of the New York Mercantile Exchange. This was the lowest settlement level since Feb. 4.
