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Gold price closing in on worst week since March – MINING.COM – MINING.com
Other precious metals are also headed for their worst week since March.
Spot gold fell 0.3% to $1,862.91 per ounce by 11 a.m. EDT, after touching its lowest since July a day earlier. US gold futures were down 0.6% to $1,865.70 per ounce in New York.
The outlook for the global economic recovery is being hit by fears that rising coronavirus cases — particularly in Europe — may lead to more national lockdowns.
Traditionally, this would have strengthened the investment appeal of safe haven assets such as gold, but falling inflation expectations do not bode well for t…
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