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The brakes are being pumped on the breathless rally for gold and other precious metals Friday amid rising expectations Kevin Warsh will be nominated to be the next Federal Reserve chair.
Gold
GC00 tumbled more than 5%, or $266, to $5,084 an ounce, which if continues will mark the first down session in nine. On Thursday, gold settled at a fresh record of $5,318.40 an ounce, a gain of $14.80, or 0.3%.
