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Gold prices fall on Tuesday amid fears worsening debt crisis in Europe, while the dollar strengthened.
The growth of the dollar and falling gold prices began on Monday after investors were disappointed the results of past elections May 6 in Greece and France.
Thus, according to many experts, the victory of socialist Francois Hollande's presidential election in France can mean a revision of the austerity measures in Europe.
In addition, still remains unclear the government of Greece. On the eve of the leader of the victorious center-right parliamentary elections Antonis Samaras could not agree with the other parties and form a government alone. In this connection, on Tuesday to form the government passed the leader of the leftist coalition SYRIZA Alexis Tsiprasu, which alerted investors to the statements that he was going to suspend payments on the debt of Greece.
The cost of the June gold futures on the COMEX today fell 2.54% to $ 1599.3 an ounce, its lowest intraday level since Jan. 4, 2012.
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