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Gold prices fell today, Thursday, to their lowest level in a month as they were affected by the rising dollar and the uncertainty surrounding a new stimulus deal in the United States, but l concern over an increase in Covid-19 infections and uncertainty ahead of the US elections have limited losses.
Gold was in spot trades at the end of the session, down 0.5% to $ 1,867.30 an ounce, after falling early in the session to $ 1,858.92, the lowest level since September 28.
And US gold futures fell 0.6% to $ 1,868.00 an ounce.
The dollar index rose 0.7% to its highest level in nearly two months against its rivals, making gold more expensive for holders of other currencies.
Gold, which is often used as a safe store of value in times of political and financial turmoil, has seen gains of 24% this year amid an unprecedented global recovery during the pandemic.
In contrast, data showed that the US economy grew at a record pace in the third quarter and the latest weekly jobless claims fell more than expected.
Among other precious metals, silver fell 0.43% to $ 23.30 an ounce, while platinum fell 2.13% to $ 848.19 and palladium fell 1.95 % to $ 2,194.00.
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