‘Dollar dominance’ extends gold price slump to four days

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A firmer dollar makes bullion more expensive for holders of other currencies

Gold fell on Thursday to its lowest level in more than two months, crippled by a robust dollar, while investors fretted over uncertainties surrounding further stimulus measures to support a sluggish economic recovery in the US.

Meanwhile, US Federal Reserve officials tried to convince investors they will keep monetary policy easy for years to allow unemployment to fall. Optimism over a nascent economic recovery soured as data showed business activity in the US and Europe cooled in September as the pandemic continued to batter activities.

 

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