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Gold slips to one-year low as U.S. dollar firms

Reuters  |  LONDON 

By Zandi ShabalalaLONDON (Reuters) - Gold sank to a one-year low on Thursday as the dollar powered higher after comments from U.S. Federal Reserve chairman Jerome Powell which reaffirmed expectations for more interest rate rises in the world's largest economy.Powell, in a closely watched two-day congressional testimony, said he believed the United States was on course for years more of steady growth, and carefully played down the risks to the U.S. economy of an escalating trade conflict.The Fed raised rates in June and policymakers indicated they expect two more rate increases this year. ...

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First Published: Thu, July 19 2018. 17:25 IST