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Global Markets Digesting Surprise UK Election Results; Sterling Slumps

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(Kitco News) - The feature in the marketplace late this week is the stunning setback for the U.K. ruling Conservative party and Prime Minister Theresa May. Her "snap election" loss of party seats in government has created a "hung Parliament," which puts May's fast-track Brexit approach in serious jeopardy, and weakens May, herself.

Gold prices did not rally on the surprise U.K. election results, but instead was pressured by a stronger U.S. dollar

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