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Gold plunges to lowest in almost 3 years

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The price of gold plunged to the lowest level in almost three years Wednesday as traders anticipate lower inflation risk as the Federal Reserve dials back its economic stimulus program. Gold for August delivery dropped $45.30, or 3.6 percent, to settle at $1,229.80 an ounce, the lowest since August 2010. Silver plunged 93.9 cents, or 4.8 percent, to $18.587 an ounce. Gold tends to do well when interest rates are low and when traders fear inflation....

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