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25-Oct2016

Gold futures end lower as dollar strengthens

Gold futures ended lower on Monday as the US dollar strengthened against a basket of major currencies to a fresh near nine-month high in the wake of data showing that the pace of growth among American manufacturers was better than expected in October. Yellow metal prices further declined on growing speculation that the US Federal Reserve would hike interest rates in December.

Gold futures for December delivery declined $4 or 0.3 percent to settle at $1,263.70 an ounce on the Comex division of the New York Mercantile Exchange. While, spot gold was down 0.2 percent to $1,263.96 an ounce.


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