Gold falls to lowest level in three-and-a-half months

Senior refinery technician Vincente Sandoval puts a gold ‘button’ into a furnace to be further refined to form gold doré bars at Newmont Mining’s Carlin gold mine operation near Elko, Nevada, the US. Picture: REUTERS/RICK WILKING/FILE PHOTO

The metal has so far lost about 1.4% in the holiday-shortened week, and is on track for a fourth straight weekly decline. Most markets are closed for Good Friday on April 19.The global economic concerns are off the table, said Brian Lan, MD at dealer GoldSilver Central in Singapore, adding that bullion was pressured as it broke below the support level of $1,275 an ounce earlier this week.

The two counties have set a tentative timeline for the next round of trade talks and aim to conclude negotiations by early June, according to a Wall Street Journal report on Wednesday.

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