Rio and Chalco abandon bid for $20bn bauxite deposit in Australia
The move surprised investors, especially since Chalco had previously held the lease and was willing to develop the resource.
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Gold price spikes to $1,360 in late trade.
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US energy boom leadership jeopardized, larger shale oilfields found
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Gold falls below $1,300 ahead of Fed
Gold suffered a third day of selling on Wednesday dropping more than $17 to a 6-week low over rising fears about US economic stimulus.