Gold settled down yesterday on the back of weaker equity markets and a sharp decline in crude oil which continues to raise some questions about inflation expectations on the short term. Nevertheless, gold recovered part of the losses in late trading as the US dollar weakened thus inspiring some short covering. In addition gold investors were also booking profits with the month coming to an end. On the other hand, silver gained as participants bought the white metal for its relative cheap price compared with the price of gold.
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