Gold Prices Fall on Stronger Dollar; Hovers Near 2-week Low:
Upbeat U.S. economic data was said to be driving global equities and the dollar higher this week, as Chinese and Japanese stocks rose more than 1% on Wednesday, while the dollar traded 0.5% higher against a basket of other currencies.
The U.S. dollar index gained 0.5% to 96.82 and hovered near 16-month highs. The index hit 97.02 on Tuesday, its highest level since June 2017 as U.S.-Sino trade tensions once again turned investors towards the greenback, which like gold has begun a steady ascent ahead of a widely-expected U.S. rate hike in December.
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