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Gold hits five-month peak as dollar slips after U.S. jobs data

Reuters  |  BENGALURU 

By Swati VermaBENGALURU (Reuters) - Gold prices hit a five-month peak on Friday and continued to trade close to that level as the dollar slid following weaker-than-expected U.S. jobs data that raised the possibility that the U.S. Federal Reserve might go slow on interest rate hikes next year.Spot gold was up 0.5 percent at $1,244.03 per ounce at 09:27 am EST (1427 GMT), having hit $1,245.60 per ounce earlier, its highest since July 13.With a rise of nearly 1.7 percent this week, gold looked set to clock its best gain since at least the week of Aug. 24.U.S. gold futures were also 0.5 percent ...

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First Published: Fri, December 07 2018. 20:40 IST