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Gold extends slide under $1500 level
(08 Nov 2019, 18:43)
Gold fell to three month low as selling intensified following a heavy slide in last session. US dollar index continued to firm up and soared to three week high of 98.17 today. The COMEX Gold futures are currently trading at $1460 per ounce, down 0.45% on the day. China's Commerce Ministry stated yesterday that the US and China have agreed to cancel existing tariffs in different phases. If China and the US reach phase one trade deal, both sides must cancel existing tariffs at the same time, in the same proportion based on agreement. This pulled the yellow metal back with the counter sliding nearly 30 dollars from its intraday high in last session. Soaring US equities also weighed on the commodity.

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