Thu. Jul 7th, 2022

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Gold not shinning

1 min read
Jewellery

Gold prices eased for a third straight session on Wednesday as the dollar climbed to a near two-month high, though uncertainties surrounding global economic recovery limited the bullion’s decline.

Spot gold fell 0.2% to $1,894.69 per ounce by 348 GMT.

U.S. gold futures were down 0.5% to $1,898.

The dollar index, often seen as a rival safe-haven, hit an eight-week peak helped by positive U.S. economic data and concerns about a second wave of coronavirus infections in Europe and Britain.

A firmer dollar makes bullion more expensive for holders of other currencies.

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