Precious Metals Turn Sharply Lower amid S&P Ratings Warning

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DG365FD46564GFH654FU898 Gold and silver futures turned sharply lower Monday afternoon as the U.S. dollar rebounded against the euro currency. COMEX gold futures tumbled as much as $30.20, or 1.7%, to $1,721.10 per ounce while silver dropped from over $33.00 to as low as $32.025 per ounce. The dollar bounced back against the euro after the Financial Times reported that Standard & Poor’s