Gold Prices Have Fallen on Profit Taking

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Gold Silver Reports (GSR) – Spot gold fell 0.4 per cent to $US1,254.81 per ounce after hitting its highest since June 26 of $US1,266.40 on Thursday. Gold prices have fallen on profit-taking, a day after bullion touched a near six-month high and the dollar rebounded, but the metal stayed on track for a weekly gain as the appetite for risk waned.

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Spot Gold May Rise into a Range of $1258-$1266 per Ounce

Spot gold may rise into a trading zone of $1258—$1266 level per ounce, as it has broken a resistance at $1245, Technical Analyst Neal Bhai.

Global stocks extended their slump on worries over slowing growth and fears that a fresh flare-up in tensions between U.S. and China could quash chances of a trade deal.

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Gold Silver Buyers, HoneyMoon Over?

Spot gold was at $1,236.85 per ounce at 0121 GMT. In the previous session, prices touched a peak of $1,241.86, their highest since Oct. 26.

US gold futures were down 0.4 per cent at $1,241.4 per ounce.

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