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Gold price on track for second weekly decline – MINING.COM – MINING.com
For the week, bullion is down 0.3%, having more dropped more than 3% earlier this week.
Gold remains under pressure — falling by as much as 1.6% on Friday — as the US dollar bounced back, denting bullion’s appeal and setting it on track for a second straight weekly decline.
Spot gold fell 0.6% to $1,934.59 per ounce by 12:10 p.m. EDT, while US gold futures slid 0.3% to $1,945.90 per ounce. For the week, the precious metal is down 0.3%, having dropped more than 3% earlier this week following release of US Federal Reserve’s latest policy meeting minutes.
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