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Gold regains some ground as dollar dips on weak U.S. data

From investing.com

Gold prices steadied on Tuesday after marking some gains in the prior session, as weak U.S. service sector data weighed on the dollar and fed into bets that the world’s largest economy was cooling. The yellow metal recovered from over two-month lows after data showed on Monday that the U.S. service sector barely grew in May, winding down months of strong growth as the labor market ran out of steam. The data spurred some losses in the dollar, pulling it away from near 11-week highs hit recently. This benefited most metal markets, particularly safe haven assets such as gold. Spot gold was flat at $1,961.16 an ounce, ... (full story)

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  • Category: Fundamental Analysis