Posted AT 4:28 PM EST on 29/04/08
Gold weakens on U.S. dollar rise
LONDON — Gold ended sharply lower after hitting a three-month bottom Tuesday on the back of a firmer U.S. dollar, declining oil prices and weak sentiment ahead of an interest rate decision by the U.S. Federal Reserve Board.
Gold often takes its cue from movements in the dollar because of its role as an alternative investment to currencies, stocks and bonds.
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