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Gold falls to a two-week low
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Economy News _ Baghdad Gold fell to a two-week low on Thursday as risk appetite and the dollar stabilized ahead of US inflation data, which could signal signs of renewed rate hikes. Gold fell 0.1 percent to $ 1321.24 an ounce by 0620 GMT, after falling earlier to its lowest level since September 1 at $ 1318.75 an ounce. Gold in US futures contracts for delivery in December fell 0.2 percent to $ 1325.10 an ounce. The dollar was steady ahead of the US inflation report for August after it fell to a two-and-a-half year low against a major basket of currencies, and fell to a 10-month low against the yen last week. A rising dollar would make the yellow metal more expensive for holders of other currencies. Among other precious metals, silver fell 0.5 percent to $ 17.64 an ounce, while platinum was little changed at $ 976.85 an ounce, while palladium rose 0.2 percent to $ 938.70 an ounce. |
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