Gold hits seven-week low

Gold prices have sunk to their lowest level in seven weeks.

Gold prices have sunk to their lowest level in seven weeks, as investors continue to discount the possibility that the conflict in Ukraine will intensify.

Gold for June delivery, the most actively traded contract, on Monday closed down $US10.50, or 0.8%, at $US1,283.80. It was the lowest close for the precious metal since February 11.

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