Commodities continued their slide on European debt worries this week and less-robust economic growth in the US, although gold has been held up by renewed talk of further Federal Reserve quantitative easing, said TD Securities (TDS) in a commodities briefing.

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Precious metals like gold and silver have traditionally served as fallback currencies. Basically, when paper currency relationships start to change and valuations become hard to predict, these metals can be relied upon to act as a widely accepted currency.

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