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Gold prices pare gains after upbeat U.S. economic data

From marketwatch.com

Gold futures climbed Friday but reversed an early gain and turned lower for the week after data showing November gains in the U.S. manufacturing and services indexes and a rise in consumer sentiment buoyed benchmark stock indexes, dulling gold’s haven appeal. The IHS Markit said its flash manufacturing purchasing managers index rose to 52.2 in November from 51.3 in October—the fastest rate since April. The flash services purchasing managers index in November also rose to 51.6 from 50.6, for the quickest expansion since July. Separately, the final reading of the University of Michigan’s U.S. consumer-sentiment index ... (full story)

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  • Category: Fundamental Analysis