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Gold fell further on Thursday on economic optimism in the United States and Europe, but rising oil prices could offer support, while physical demand was expected to pick up again after the Lunar New Year celebration. Spot gold lost $7.50 to $1,328.50 an ounce by 0734 GMT after falling 0.5 percent in the previous session despite tensions in Egypt, which pushed up energy prices. Bullion was well below a lifetime high around $1,430 struck in December.

Copyright Reuters, 2011

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