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Gold Plunges To 5-month Low

Gold futures plunged Tuesday along with U.S. stocks amid a significant rise in bond yields.

Analysts say a rate hike in June is now a certainty, hurting gold prices.

June gold dropped $27.90, or 2.1%, to settle at $1,290.30/oz., the lowest since December 2017.

Retail sales in the U.S. increased in line with economist estimates in the month of April, according to a report released by the Commerce Department on Tuesday.

The Commerce Department said retail sales rose by 0.3 percent in April after climbing by an upwardly revised 0.8 percent in March.

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