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Gold is almost unchanged

On Monday, gold didn’t change a lot, though a broadly stronger greenback kept weighing on the number one precious metal.

In New York, December delivery gold futures stood still at $1,267.25.

The December contract concluded Friday’s trading session little changed at $1,267.70 per ounce.

Futures were about to gain support at $1,268.60, the minimum from October 21 as well as resistance at $1,271.50, the peak from October 20.

Gold prices were still under pressure as expectations for an American rate lift before the end of the year kept giving broad support to the US dollar.

The greenback was spurred after New York Fed President William Dudley told the previous week that the major American bank will probably increase interest rates later this year if the US economy remains on its positive trajectory.

On Friday, San Francisco Fed President John Williams informed that 2016 would be good for a rate lift.

Surging expectations that Hillary Clinton will win the American presidential election have also contributed to the view that a December rate lift is possible. 

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