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Gold faces biggest monthly drop since late 2008

Gold prices fell more than 1 percent on Tuesday and were set for their biggest monthly decline since October 2008. Spot gold declined 1. 5 percent to $3, 956. 92 per ounce by 02: 21 GMT, shedding 12. 7 percent so far in the month in what would be its fourth straight monthly fall. US gold futures for Aug. .

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