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21-Feb2018

Gold futures wilts on stronger dollar

Gold futures settled lower on Tuesday, triggered by a rebounded dollar from its three-year lows and on  anticipations about interest rate hikes ahead of the release of Federal Reserve's January policy meeting minutes and the release of the European Central Bank's latest policy meeting minutes. However, some of the losses of yellow metal remain capped as the political worries and uncertainty about this week's huge US bond auctions increased the safe-haven appeal.

Gold futures for April delivery ended down by $25, or 1.8 percent, at $1,331.20 per ounce on the Comex division of the New York Mercantile. While, spot gold settled down by 1.3 percent at $1,328.71 per ounce.


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