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Gold edges up as dollar, stocks slip

Reuters  |  LONDON 

By Zandi ShabalalaLONDON (Reuters) - Gold inched up on Friday as the dollar and stocks fell on a delay to U.S. tax reforms, but it was still on track for a second weekly decline.Spot gold was up 0.1 percent at $1,276 an ounce at 1303 GMT. On Thursday, it fell 0.7 percent to touch its lowest since Nov. 6 at $1,270.11. The yellow metal is down 0.9 percent this week. U.S. gold futures gained 0.2 percent to $1,279.10. "Tax reform would be negative for gold," said Commerzbank analyst Carsten Fritsch, "because this will lead to higher inflation and more Fed rate hikes."He said the recent ...

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First Published: Fri, December 01 2017. 20:54 IST