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Gold hits four-week low on firmer dollar amid US rate hike views

US gold futures for April delivery were nearly flat at $1,314.50 per ounce

Reuters 

Gold prices dropped for a third straight session on Thursday and hit a fresh four-week low, as investors liquidated their long positions on a firmer dollar, while expectations of more US rate hikes this year also weighed on the market. Spot gold was down 0.4 percent at $1,312.41 per ounce as of 0755 GMT, after hitting its lowest since Jan. 10 at $1,309.51 earlier in the session. US gold futures for April delivery were nearly flat at $1,314.50 per ounce. The dollar rose on Wednesday, marking its biggest one-day gain in more than three months against a basket of currencies. It ...

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First Published: Thu, February 08 2018. 16:05 IST
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