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Gold price hits lowest point in six months as dollar surges

Gold slumped to the lowest point in almost half a year as investors exchanged the metal for more liquid dollars.

Spot gold in London fell to $1,523 a troy ounce, the weakest since July and down nearly $400 from a nominal record reached this year.

The reversal has spooked investors searching for havens. The largest gold exchange traded fund, held by both individual investors and the biggest hedge funds, has unloaded 44 tonnes, or 3 per cent of its hoard, this month.

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