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Gold ends lower on stronger U.S. dollar


10:00, November 28, 2012

CHICAGO, Nov. 27 (Xinhua) -- Gold futures on the COMEX division of the New York Mercantile Exchange fell Tuesday, extending losses to a second-straight session, as a stronger U.S. dollar weighed on the trading.

The most active gold contract for December delivery fell 7.3 dollars, or 0.42 percent, to settle at 1,742.3 dollars per ounce.

A meeting to discuss Greece's finances wrapped up early Tuesday with Greece's institutional lenders reaching a deal to pave the way for Athens to receive almost 57 billion U.S. dollars of financial aid, while bringing its debt down to a sustainable level.

According to market analysts, the deal is expected to trigger another aid payment for the debt-struck country. The U.S. dollar has strengthened since the Greek debt deal was announced.

The ICE dollar index, which measures the greenback against a basket of six rivalry currencies, climbed to 80.411 from 80.227 late Monday in North American trading. Strength in the greenback weighs on prices for dollar-denominated commodities such as gold.

Silver for December delivery fell 15.6 cents, or 0.46 percent, to close at 33.981 dollars per ounce.

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