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Both the gold and silver prices are down sharply on Monday.
The gold futures are currently down $88 to $3,403 per ounce.
Silver meanwhile, is currently down 76 cents to $37.78.
CNBC is suggesting that the precious metals are down as the markets are awaiting clarification from the Trump administration that the gold tariffs that were announced by the US Customs and Border Protection department on Thursday are not actually valid.
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