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Gold Extends Decline After Trade Breakthrough, U.K. Election


Friday, 13 December 2019 07:42 WIB

GOLDEMAS


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Gold headed for a back-to-back decline as President Donald Trump signed off on a so-called phase-one trade deal with China and an exit poll indicated a comfortable majority for the governing Conservative Party in the U.K.'s national election.

Bullion for immediate delivery fell as much as 0.5% in early trading Friday and was 0.3% lower at $1,465.53/oz as of 7:48 a.m. in Singapore. The metal declined 0.3% Thursday.

Traders pulled $275 million from the VanEck Vectors Junior Gold Miners ETF on Wednesday, the most since April 2017, according to data compiled by Bloomberg. A separate fund also tracking the gold-mining industry had the largest withdrawal since September.

Source : Bloomberg


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