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Sydney Morning Herald reports that the Australian market has taken a hit at the opening touching a three-week low.

The market news is quoted as saying,

Shares in Newcrest Mining lost 2.3 per cent to $40.16 after the miner revised down its full-year gold production forecast to around 2.82 million ounces from an earlier 2.85 million to 2.95 million target.

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