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Gold slips on firm dollar ahead of US jobs data

Gold is highly sensitive to rising US interest rates, which increase the opportunity cost of holding non-yielding bullion

Reuters  |  London 

GoldedgedloweronFriday,headingforitssecondconsecutiveweekoflossesasthedollarstrengthenedaheadofUSjobsdataexpectedtoprovidecluesonthetimingofapossibleinterestratehike. Spotgoldwasdown0.27percentat$1,313.60anounceby0850GMT,havinghititslowestsinceJune24at$1,301.91onThursdayafterjoblessclaimsdatabeatexpectations. USgoldfuturesslippedby0.26percentto$1,3110.11anounce,withpricesheldinanarrowrangebyuncertaintyaheadofthepayrollsdataat1230GMT. "Peopledon'thaveastrongopinionand ...

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First Published: Fri, September 02 2016. 15:33 IST
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