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01-Oct2016

Gold futures end lower on Friday

Gold futures ended lower on Friday as waning concerns surrounding the health of Deutsche Bank's balance sheet prompted a rally in US equities. Meanwhile, The Commerce Department reported that US consumer spending fell in August for the first time in seven months while inflation showed signs of accelerating, mixed signals that could keep the Fed cautious about raising interest rates.

Gold futures for December delivery declined $8.90, or 0.7 percent to settle at $1,317.10 an ounce on the Comex division of the New York Mercantile Exchange. While, spot gold was down 0.3 percent to $1,316.32 an ounce.

 


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