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Gold touches two-week peak on yuan rebound, weaker dollar

Reuters  |  LONDON 

By Eric OnstadLONDON (Reuters) - Gold extended its recovery on Monday, touching its highest level in nearly two weeks as the dollar weakened, the Chinese yuan rebounded and some investors reversed bearish gold bets. Spot gold was up 0.7 percent at $1,262.37 an ounce by 1400 GMT, its strongest since June 26.U.S. gold futures for August delivery rose 0.6 percent to $1,263.30. There has been a strong correlation recently between the yuan and gold, analysts said."I think most likely the yuan will remain volatile but (I don't expect ...) aggressive weakness, so that means the only thing that is ...

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First Published: Mon, July 09 2018. 19:41 IST