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Gold prices retreat Wednesday as stocks rise, U.S. dollar stages rebound

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Gold futures headed lower Wednesday as global stocks rose and the U.S. dollar recovered from a two-year low on Tuesday, creating some headwinds for bullion values.

The U.S. Dollar Index, a gauge of the buck against a half-dozen currencies, was up 0.4% at 92.671, with that index elevated by a retreat in the euro
EURUSD,
-0.51%

The retreat by the euro followed comments from European Central Bank’s chief economist Philip Lane, who said the euro’s strength would influence policy makers’ forecast for the region’s economic growth and have an impact on monetary policy decisions. The comments came after the euro, which represents the heaviest…



Source marketwatch.com

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