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Gold retains modest gains, but stays near 2-1/2 month low
Gold clung to small overnight gains on Thursday on some safe-haven bids due to the Ukraine crisis, but the metal continued to trade near 2-1/2 month lows as brighter prospects for the US economy dimmed its appeal. Investors were waiting for a European Central Bank meeting later in the day to see whether it will deliver a fresh round of policy stimulus, and its impact on the euro and the dollar.
Spot gold was little changed at $1,268.28 an ounce by 0040 GMT. The metal had fallen to a 2-1/2 month low of USD 1,261.19 on Wednesday, before recovering modestly to close up 0.3 percent.
Gold clung to small overnight gains on Thursday on some safe-haven bids due to the Ukraine crisis, but the metal continued to trade near 2-1/2 month lows as brighter prospects for the US economy dimmed its appeal. Investors were waiting for a European Central Bank meeting later in the day to see whether it will deliver a fresh round of policy stimulus, and its impact on the euro and the dollar.
Spot gold was little changed at $1,268.28 an ounce by 0040 GMT. The metal had fallen to a 2-1/2 month low of USD 1,261.19 on Wednesday, before recovering modestly to close up 0.3 percent.
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US stocks finished higher. The Dow Jones Industrial Average gained 142 points at 20,805. The Nasdaq Composite gained 29 points to close at 6,084. The S&P 500 closed 16 points up at 2,382.capitalstars
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