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Gold in euros slides 1 pct as euro pares gains

Published 05/26/2011, 10:09 AM
Updated 05/26/2011, 10:16 AM
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LONDON, May 26 (Reuters) - Gold priced in euros extended losses on Thursday to fall by 1 percent as the euro came under pressure against the dollar, paring some of the day's gains.

Gold in euros was last down 1 percent at 1,071.49 euros an ounce by 1402 GMT, down from an earlier high of 1,084.38 euros and after hitting a record 1,088.11 euros the day before.

Fixed income traders cited a report quoting a Euro Group official as saying the IMF may not release its next aid tranche for Greece next month.

Benchmark dollar-priced gold fell 0.5 percent to $1,516.30 an ounce, having risen to three-week highs on Wednesday as concern deepened over the escalation in the euro zone debt crisis. (Reporting by Amanda Cooper; Editing by Alison Birrane)

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