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Gold falls to 2-month lows

FXStreet (Córdoba) - The yellow metal remains on the defensive Thursday as the dollar continues to strengthen following hawkish minutes from the Federal Reserve.

Gold extended its pullback from the $1,300 area and accelerated losses on the break of the $1,285 zone at the beginning of the European session. A stronger greenback and easing geopolitical concerns have taken their toll on the precious metal, which has fallen nearly $25 so far this week.

Gold for December delivery is trading at $1,279.50 an ounce, recording a 1.2% loss on the day, having hit a 2-month low of $1,275 so far. September silver was down 0.9% at $19.34 an ounce.

Today US data includes initial weekly jobless claims, existing home sales and the Philly Fed manufacturing index. However, market focus now turns to Friday’s Janet Yellen speech at Jackson Hole.

Gold again close to the final support at 1282

Independent Analyst Vladimir Mihaylov observes that gold is approaching the support at 1282 and if it breaks below it could quickly fall to 1252 or even lower.
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GBP/USD now focuses on 1.6558 – Commerzbank

The current weakness around the sterling could drag the pair to the 1.6550 area, suggested Axel Rudolph, Senior Technical Analyst at Commerzbank....
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