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Gold firms with focus on Middle East developments, US economic data
Gold ticked higher on Tuesday as market participants focused on developments in the Middle East and upcoming U.S. economic data to gauge their impact on monetary policy. Spot gold was up 0.5% to $4,504.36 per ounce as of 11:16 a.m. EDT (1516 GMT) after falling as much as 2% on Monday. U.S. gold futures gained 0.6% to $4,534.00. Gold market trajectory "depends on the direction of oil prices, bond yields, and the U.S. dollar - all of that, in turn, is tied to the Middle East situation," said Fawad Razaqzada, market analyst at Forex.com. "For me to turn bullish on gold again, we need to see at least some renewed ... (full story)
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