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27-Oct2016

Gold futures end lower on Wednesday

Gold futures ended lower on Wednesday as investor appetite for riskier assets such as equities and crude oil recovered slightly, denting demand for bullion, often considered a safe haven. Yellow metal prices declined further ahead of next week's Federal Reserve meeting. The Fed will hold its next monetary policy meeting on November 1-2.

Gold futures for December delivery declined $7 or 0.6 percent to settle at $1,266.60 an ounce on the Comex division of the New York Mercantile Exchange. While, spot gold was down 0.6 percent to $1,265.75 an ounce.

 


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