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Dollar rise pushes gold toward biggest weekly fall since May

Reuters  |  LONDON 

By Peter HobsonLONDON (Reuters) - Gold prices steadied on Friday but were on track for their biggest weekly fall since May ahead of U.S. employment data later that could influence the pace of U.S. interest rate rises. Gold this week broke below a recent trading range and tumbled through technical levels to its lowest since July as progress on U.S. tax reform fuelled optimism about the U.S. economy and boosted the dollar. "You can put it down to the strength of the dollar and the ebullience of investors regarding equities and all things risk-on," said ETF Securities analyst Martin Arnold. ...

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First Published: Fri, December 08 2017. 21:11 IST