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Gold retreats on US dollar uptick, traders bet on Fed pause

From brecorder.com

Gold prices eased on Wednesday from a 1-1/2-month high touched in the previous session, dragged by a slightly stronger dollar, even as investors bet that recent US economic readings make the case for a pause in the Federal Reserve’s rate-hike stance. Spot gold fell 0.1% to $1,976.05 per ounce by 0350 GMT, after hitting its highest since May 24 at $1,984.19 on Tuesday. US gold futures were little changed at $1,980.00. The dollar index edged higher from a more than one-year low hit on Tuesday, making gold more expensive for holders of other currencies. US retail sales increased less than expected last month, rising ... (full story)

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  • Category: Fundamental Analysis