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Gold Prices Slide to Eight-Week Lows
Gold prices were subjected to further selling on Friday, weakening for the eight successive day, and declining to test eight-week lows near $1,210 per ounce with a very limited bounce reversing after Fed Chair Yellen’s comments. After coming under further pressure during Thursday’s US session, gold prices found support around the $1,214 level in early Asian trading and rallied to a high of $1,222 as the dollar was unable to make further headway. There was a general drift lower in Europe with rallies quickly attracting selling interest as markets continued to focus on the potential for higher US interest rates. US ... (full story)
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