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Gold, Silver Extend Rout on Investor Sales Amid Market Turmoil

Gold fell, capping the biggest three-session slump since 1983, and silver closed below $30 an ounce on investor sales to cover losses in other assets.

Last week, the Dow Jones Industrial Average fell 6.4 percent, the most since October 2008. This month, the dollar has gained 5.4 percent against a basket of major currencies. Global equities rallied today as Europe’s sovereign-debt concerns eased. Gold surged to a record on Sept. 6, and silver approached $50 in April.