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Gold slides to four-month low as dollar edges up


By Apeksha Nair(Reuters) - Gold prices dropped to their lowest level in four months on Thursday as the dollar rose underpinned by optimism surrounding tax reform in the United States.Spot gold fell 0.5 percent to $1,257.70 an ounce by 0707 GMT, after marking its lowest since Aug. 8 at $1,255.80.U.S. gold futures were also down 0.5 percent at $1,259.90.The dollar on Thursday inched up against its peers, as optimism over U.S. lawmakers making progress on tax legislation continued to grow. Hopes that U.S. tax reforms would boost economic growth have dented demand for safe-haven assets such as ...

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First Published: Thu, December 07 2017. 13:07 IST