Gold falls most in a month; other metals follow

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Associated Press

Posted on November 28, 2012 at 5:00 PM

Updated Wednesday, Nov 28 at 5:02 PM

Gold prices are falling 1.5 percent, the most in nearly a month. Other metals prices also are down.

Gold for December delivery fell $25.80 an ounce to settle at $1,716.50 an ounce Wednesday. It was the biggest drop since Nov. 2.

Silver settled nearly 1 percent lower, giving up 29.7 cents to $33.684 an ounce. Copper and platinum also had modest losses. Palladium was the outlier, gaining a little less than 1 percent.

Energy prices were mostly lower. Crude oil fell 69 cents to finish at $86.49 per barrel in New York. Oil was off nearly 2 percent earlier in the day. Much of the loss was erased in afternoon trading after the Federal Reserve reported that economic growth improved in October and early November across much of the country.

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