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Gold slides to 1-week low as dollar climbs

Reuters  |  LONDON 

By Pratima DesaiLONDON (Reuters) - Gold prices slid on Friday to their lowest in more than a week as the dollar rose due to easing trade tensions and weak demand for the precious metal due to expectations of higher interest rates in the United States.Spot gold was down 0.5 percent at $1,240.3 an ounce, at 1031 GMT from an earlier $1,238.90, its lowest since July 3. It has fallen about 9 percent since the middle of April. U.S. gold futures slipped 0.5 percent to $1,240.9 an ounce.Tensions between the United States and China eased after U.S. Treasury Secretary Steven Mnuchin said on Thursday ...

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First Published: Fri, July 13 2018. 16:21 IST
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