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Gold to Snap Nine-Week Winning Streak as Heat Comes Out of Rally
Gold is set to snap a nine-week winning streak, following a sharp correction as traders reassessed a rally that had pushed the metal into overheated territory. Bullion edged lower to near $4,110 an ounce, putting it on track for a weekly decline of more than 3%. Investors continued to weigh improving prospects for US-China relations, with the White House confirming President Donald Trump and counterpart Xi Jinping are set to meet next week in an effort to deescalate a simmering trade war. A deal would relieve some of the geopolitical tensions that have bolstered demand for haven assets like gold.