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Gold prices topped $1,500 an ounce Tuesday as investors looked for more stable assets because of worries about U.S. government debt, European financial problems and inflation.

Gold for June delivery settled at $1,495.10 an ounce Tuesday after hitting $1,500.50 an ounce earlier in the session. May silver rose 95.7 cents to settle at $43.913 an ounce. The gains came a day after Standard & Poor’s Rating Service lowered its outlook on U.S. government debt.

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