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DirectGold has collapsed after Friday's losses, as the metal lost more than $ 16 as equities were gaining and easing fears of a slowdown in global economic growth.
The yellow metal was negatively affected by the strength of the US dollar because of economic data as well as by the gains of "Wall Street", where the Dow Jones Industrial Index opened more than 200 points.
Gold prices rallied throughout the week due to fears of slowing global economic growth and negative economic data, followed by a reversal of the US bond yield curve and sharp losses in US yields. stock markets.
US President Donald Trump said Friday that he thought China wanted to implement a trade deal and that the current dispute was short-lived.
On the economic front, US housing permits have increased more than expected, while US consumer confidence has bottomed out this year.
At 14:36 GMT, gold futures for December delivery fell 0.6%, or $ 8.80 an ounce, to $ 1,522.40 ounce. .
The spot price for the yellow metal, at 14:47 GMT, fell by more than 1%, the equivalent of $ 16.13, to reach $ 1507.16 per ounce.
During this period, the dollar index, which tracks the performance of the currency against the six major currencies, rose only 0.08% to 98.227.
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