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Gold prices slip on profit booking but set for third-weekly gain
Gold prices fell on Friday as investors resorted to booking profits after the yellow metal had surged to a one-month-high in the previous session. “Gold price (XAU/USD) retains its negative bias through the first half of the European session on Friday, though it lacks follow-through selling and remains close to a one-month peak touched the previous day,” Haresh Menghani, editor at FXstreet, said in a report. The dollar’s rise on Friday also dented demand for the yellow metal. A stronger dollar makes commodities priced in the greenback more expensive for overseas buyers, thereby limiting demand. Menghani further ... (full story)