Interest rates fell sharply on Tuesday, as bonds rallied on a plunge in gold prices.

At 4 p.m. in New York, the yield on the Treasury's 30-year bond was down to 6.88% from 6.97%. The drop was across the board, as the five-year note fell to 5.27% from 5.36% and the two-year to 4.14% from 4.24%.

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