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16-Nov2016

Gold futures end higher as dollar falls

Gold futures ended higher on Tuesday as the dollar fell for the first time since last week's US presidential election, Treasury yields dropped from this year's high and base metals slipped. Yellow metal improved further on uncertainty over the economic policies of US President-elect Donald Trump. However, some gains were capped on reports that US retail sales rose more than expected in October as households bought motor vehicles and a range of other goods, pointing to sustained economic strength that could allow the Federal Reserve to raise interest rates next month.

Gold futures for December delivery rose $2.80 or 0.2 percent, to settle at $1,224.50 an ounce on the Comex division of the New York Mercantile Exchange. While, spot gold was up 0.29 percent at $1,223.41 an ounce.


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