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Gold descends off 9-1/2 month minimums as dollar rally stops

On Thursday, gold prices eased having dropped to their lowest levels since February as the greenback paused after ascending to fresh 14-year highs.

In New York, December delivery gold futures were trading at $1,187.55 per troy ounce, having dropped as low as $1,179.75, a value not seen since February 8.

The evergreen buck soared, as positive US data and Wednesday’s Fed minutes strengthened expectations for a rate lift next month.

Additionally, data revealed that American durable goods orders leapt at the fastest rate in a year in October and another data showed that an indicator of American consumer confidence grew strongly in November.

December delivery silver futures were at $16.34 per troy ounce, while copper futures hit $2.65 a pound.

Copper prices have gone up approximately 20% so far this month on hopes of surging demand from China and a soar in infrastructure spending in America, when Donald Trump becomes US president.

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