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Gold prices fell to the lowest level in 18 weeks as investors ditched the safe-haven metal following decreasing tensions in Eastern Europe and solid US economic numbers. Gold for June delivery, the most actively traded contract, closed down 0.5 per cent, or $US6.20, at $US1,259.30 a troy ounce on the Comex division of the New York Mercantile Exchange, the lowest level since February 7. The move follows a nearly two per cent drop on Tuesday. Prices for the precious metal spent most of May hovering around $US1,300 an ounce, as investors weighed fallout from the political conflict between Russia and Ukraine against an improving US economic picture. More