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04-Nov2016

Gold futures end lower on Thursday

Gold futures ended lower on Thursday after the Federal Open Market Committee announcement. The results of the Federal Open Market Committee meeting are in and US central banking officials have said they are waiting for further evidence to indicate a rate hike, but have still left the door open for a December increase in the key interest rate. However, some losses were capped as narrowing poll numbers drove up political uncertainty in the US ahead of presidential elections next week.

Gold futures for December delivery settled down 0.4 percent at $1,303.30 an ounce on the Comex division of the New York Mercantile Exchange. While, spot gold was up 0.4 percent at $1,302.17 an ounce.


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