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Gold steady as dollar holds gains made after U.S. jobs data

Reuters 

By Nithin ThomasPrasadGold held steady near two-week lows on Monday, with the dollar remaining supported by expectations of monetary tightening in the United States following stronger-than-expected jobs data last week."The job data was very good; gold is pressured," said Richard Xu, a fund manager at China's biggest gold exchange-traded fund, HuaAn Gold."There is not much other geopolitical uncertainty in the world, no extreme events. That's why risk-aversion is subsiding and gold prices aren't doing well." Gold is used as an alternative investment during times of political and financial ...

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First Published: Mon, August 07 2017. 15:09 IST
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