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COMMODITY UPDATES - GOLD STEADY AFTER DOLLAR EDGES AWAY FROM 14-YEAR PEAK.

Byline: S. KAMAL HAYDER KAZMI

Gold was little changed on Thursday in muted trade ahead of the holidays as the US dollar slipped from 14-year highs. Spot gold was steady at $1,131.54 an ounce in Asian trade.

The metal, which hit a 10-1/2-month low of $1,122.35 last week on hawkish rate hike forecast from the Federal Reserve, ended flat in the previous session.

US gold futures were little changed at $1,132.90 per ounce. The Federal Reserve, which hiked US interest rates last week, signaled three more increases next year compared with its previous projection of two.

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Publication:Pakistan & Gulf Economist
Date:Jan 1, 2017
Words:135
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