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Weaker dollar and stock market jitters drive gold higher

Gold prices have been held down in recent months

Reuters  |  London 

Gold prices rose on Wednesday as the dollar weakened and stock markets fell after a delayed US healthcare bill increased doubts about President Donald Trump's ability to pass economic stimulus measures.   The dollar sank to its lowest since November as Japan's yen strengthened and the euro hit a one-year high when European Central Bank President Mario Draghi hinted that stimulus could be trimmed this year. A weaker dollar makes dollar-denominated bullion cheaper for holders of other currencies and can increase demand.   Spot gold was up 0.5 per cent at $1,252.81 ...

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First Published: Thu, June 29 2017. 02:08 IST