AUG 15 FRIDAY
silver plunged 12.1 percent to $12.46 an ounce, the lowest
since Sept. 14, before trading at $12.98.
Gold tumbled below $800 an ounce in Asian trading as
the dollar headed for its longest winning streak in more
than two years, reducing the appeal of the metal as an
alternative investment to U.S. assets.
Oil, gold, copper and corn have plunged from records this year as
the dollar strengthened and concern mounted that slower global
economic growth will cut demand for raw materials. Silver and
platinum also tumbled today amid increasing expectations the
Federal Reserve won't cut interest rates.
The dollar climbed to a 5 1/2-month high versus the European
single currency, heading for a fifth weekly gain, on speculation
a drop in oil prices will support economic growth in the U.S., the
world's largest consumer of the fuel.
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