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Gold slips but holds above $1,300; copper marks highest finish since 2014
Tuesday, 17 October 2017 02:25 WIB | PRECIOUS METALS |EMASBullion

Gold ended lower Monday as the U.S. dollar strengthened slightly, but lingering uncertainty about the pace and scope of U.S. interest-rate hikes beyond December kept the yellow metal above the key $1,300 level for a second session in a row.

Copper prices, meanwhile, marked a more than three-year high as upbeat Chinese economic data lifted demand prospects for the industrial metal.

December gold gave up $1.60, or 0.1%, to settle at $1,303 an ounce after earlier highs above $1,308. The exchange-traded SPDR Gold Trust lost 0.3% after posting a gain of around 2.1% last week.

The ICE U.S. Dollar Index and the WSJ Dollar Index a broader measure of the greenback™s performance, traded 0.1% higher. Last week, both indexes fell by 0.8%. Commodities priced in dollars often trade inversely with the dollar, as moves in the U.S. unit can influence the attractiveness of those commodities to holders of other currencies.

 

Source: MarketWatch

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