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Commodities: Gold bounces back

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Date: Wednesday 26 Mar 2008

LONDON (ShareCast) - Gold bounced back after the recent sell-off as the dollar resumed its slide against the euro.

Gold for April delivery surged $16.30 to $935.00 an ounce.

The dollar posted its biggest loss against the euro in two weeks as concerns about the US economy gripped investor sentiment again.

Even so, the stellar gains were still somewhat curbed by the indifferent oil prices, which reduced the appeal of metals across the board.

Crude prices had been lower for most of the session, continuing the significant falls in recent sessions, but did post some gains by close.

May futures contract rose 36 cents to $101.22 a barrel.