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Gold Leads Commodities Pullback

From investingnews.com

After hitting a new all-time high last week, gold retreated this session on track for a 4.2 percent decline. Despite the reversal, the yellow metal is still holding above US$1,940. Recent headwinds for the yellow metal come courtesy of an uptick in US treasuries, paired with some renewed strength in the US dollar. Positive economic data out of America, which reported less than 1,000 new jobless claims last week, also weighed on the broader precious metals sector. The base metals were also challenged over the five-day period, trending lower. Despite holding above the US$1,900 range, gold recorded its poorest ... (full story)

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  • Category: Fundamental Analysis