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Gold prices edge lower amidst concerns of global economic slowdown

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December 17, 2018 (MLN): Gold prices edged lower on Monday, as the dollar held firm below a 19-month peak on safe-haven demand amid concerns of a global economic slowdown.

Moreover, the precious metal saw a drop in its value as investors continued to await cues on U.S. interest rate hikes from a Federal Reserve meeting expected to take place this week.

Spot gold was down 0.1 percent at $1,237.51 per ounce, as of 0401 GMT, after having hit its lowest since Dec. 4 at $1,232.39 on Friday.

U.S. gold futures were little changed at $1,241.3 per ounce.

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Posted on: 2018-12-17T10:49:00+05:00

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