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Business

REUTERS
February 9, 2018

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Gold down

Gold down

Bengaluru “ Gold prices held on to losses from the previous session early on Thursday, after the precious metal fell to four-week lows on a firmer dollar amid expectations of more U.S. interest rate hikes.

Spot gold was down 0.2 percent at $1,315.22 an ounce, as of 0112 GMT.

Prices touched their lowest since Jan. 10 at $1,311.66 on Wednesday. U.S. gold futures were up 0.2 percent at $1,317.40 per ounce.

U.S. stocks finished lower on Wednesday, losing ground late in the session as a jump in Treasury yields kept investor nervousness high. Wednesday´s lower close in stocks followed another choppy trading session, suggesting that investors are still jittery after the recent steep selloff in equities.

Benchmark Treasury yields rose on Wednesday after the weak demand in the U.S. Treasury Department auction of new 10-year notes and the U.S. Senate reached a budget deal, possibly adding to pressure on stocks.

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