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15-Dec2018

Gold futures settle lower on robust US economic data

Gold futures settled lower on Friday, marking over one weak low rate, as dollar bounced with the release of robust US economic data. The dollar index registered a 19-month high rate. Moreover, the yellow metal also weighed down, as investors went cautious ahead to Federal Open Market Committee (FOMC) meeting on December 18 and 19, at which the central bank is widely expected to raise interest rates.

Gold futures for February delivery settled down 0.5%, at $1,241.40.per ounce, on the Comex division of the New York Mercantile, while spot gold fell 0.4% to $1,237.60 per ounce. 


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