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Gold, Silver Stable After Recent Beatdown

Mon, 10th Jul 2017 19:55

WASHINGTON (Alliance News) - Gold inched higher Monday, steady after last week's clobbering. Traders went bargain hunting for beaten down commodities as the dollar relented versus major rivals.

August gold climbed USD3.50, or 0.3%, to settle at USD1,213.20/oz, staying near Friday's 4-month low. Silver added 1.5% after touching the lowest in more than a year.

Markets were relatively quiet due to a lack of first-tier economic data or significant corporate headlines.

Mid-week testimony from Federal Reserve Chair Janet Yellen will be closely scrutinized for clues about when the Fed will again raise interest rates.

Recent economic data including the June jobs report suggest the economy is in good shape heading into the dog days of summer.

Copyright RTT News/dpa-AFX

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