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Gold dips after post-CPI rally, copper hit by China GDP jitters
Gold prices retreated from one-month highs on Monday, as traders locked in some profits after two weeks of gains, while copper prices fell amid uncertainty over a slew of major Chinese economic readings. Metal prices saw strong gains over the past two weeks as the dollar slumped to 15-month lows, tracking a string of weak U.S. inflation readings. The weak data also spurred increasing bets that the Federal Reserve was close to ending its rate hike cycle for the year. But gains in gold were also somewhat limited by signs of resilience in the U.S. economy, which in turn weighed on safe haven demand for the yellow metal. ... (full story)