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Gold falls to its lowest level in a week
09:30 - 04/11/2017
Information / Baghdad ..
Gold fell to a one-week low after US economic data beat expectations, the dollar rose to overshadow the impact of the Baht job report.
The dollar gained on a strong reading of US factory orders and the services sector, shedding earlier losses after a disappointing job report in October.
Spot gold fell 0.6 percent to $ 1267.95 an ounce, heading towards a third weekly decline. The yellow metal hit its lowest level since October 27 at $ 1265.16 an ounce.
Gold in the US futures contract for December delivery fell 0.7 percent to $ 1269.20 an ounce.
Peter Vertig, consultant at Quantitative Research Research, said the data came in a mixed sequence but generally bolstered the rationale not only for a further increase in interest rates by the Federal Reserve in December, but also for another gradual increase in interest rates in 2018.
Among other precious metals, spot silver fell 1.7 percent to $ 16.78 an ounce, platinum fell 0.6 percent to $ 919 an ounce, while palladium rose 0.2 percent to $ 998.10 an ounce. Ending / 25
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