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10-Sep2018

Gold futures trade lower on Monday

Gold futures traded lower on Monday, as the stronger-than-expected payrolls data cemented expectations that the Federal Reserve will raise interest rates in September, which would be its third hike this year. Higher interest rates encourage investors to sell the bullion, which earns nothing and costs money to store and insure.

Gold futures for December delivery fell 0.1 percent to $1,199.80 per ounce, on the Comex division of the New York Mercantile. While, spot gold down 0.1 percent at $1,194.01 ounce.


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