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Wednesday, May 13: Today in Gold and Silver

NEW YORK (TheStreet) — After not doing much of anything from a price perspective in Far East and early London trading on their Tuesday, gold and silver both rallied sharply sharply starting just before 11 a.m. in London.  Within minutes, gold was up 13 dollars, but that was pretty much it for the day.  The price dipped a bit during COMEX trading, but then rallied until 11:45 a.m. EDT, before

New Zealand bank moves to cool Auckland property market

New Zealand’s central bank on Wednesday announced measures to cool Auckland’s red-hot property market, saying a potential real-estate bubble posed a significant risk to the economy. House prices in the South Pacific nation’s largest city have skyrocketed in recent years, resulting in Auckland being named as the world’s ninth least affordable major city in an international survey released this year. Reserve Bank of New Zealand Governor Graeme Wheeler said the