Gold falls to two-month low on stronger greenback

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Source: Forexpros

Gold futures fell below the key support levels to the lowest price since October as stronger US dollar and concerns over the euro-zone forced investors to sell gold holdings to increase liquidity. On the Comex division of the New York Mercantile Exchange, gold futures for delivery in February traded at USD1,613.15 a troy ounce at the U.S. morning trade, tumbling 3% since opening.

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Wed, 14 Dec 2011 16:16:42 GMT

Credit Agricole to cut 2,500 jobs

Credit Agricole SA plans to make redundant about 2,500 employees due to spreading debt crisis in the euro-zone. The majority of layoffs will be abroad, said the company representative. Credit Agricole's corporate and investment bank will suffer the most as 600 positions are planned to be cut there.

Wed, 14 Dec 2011 16:13:21 GMT

FTSE 100 retreats after Italian bond auction

After closing 1.1% higher on Tuesday UK's FTSE 100 sharply retreated during Wednesday after Italy faced record high borrowing costs and Federal Reserve rejected prolonging quantitative easing. UK benchmark lost 0.9% falling to 5,441.99 during afternoon. On the downside were banking and resource stocks. Barclays PLC dropped 2.91% while RBS lost 1.76%. Royal Dutch Shell PLC and BP PLC each declined around 1%. Metal producer Rio Tinto

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