Weak Commodities Push Gold Price Down 1.5 Percent

Reuters reported that gold prices were down nearly 1.5 percent as shaky commodities pushed investors to sell.

As quoted in the market news:

The selling erased an early one-percent rally that occurred amid optimism for a European Union aid package for Spain. EU ministers agreed to provide aid to ailing Spanish lenders. They set a maximum of 100 billion euros ($123 billion) of which some 30 billion euros would be available by the end of July if there was an urgent need.

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