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Gold Prices Near Two-Week Lows; Brexit, Sino-U.S. Trade Talks in Focus

Gold prices traded slightly lower on Friday in Asia and were near two-week lows. Brexit developments and news on Sino-U.S. trade front were in focus.

Gold futures traded on the Comex division of the New York Mercantile Exchange were down 0.1% to $1,294.05per ounce by 2:00 AM ET (06:00 GMT).

The precious metal now trade near two-week lows, losing out to a dollar that proved a better hedge against Brexit and the U.S.-China trade war.

Gold bugs have been left frustrated because of the fact other major central banks have also turned dovish, thereby keeping the dollar supported indirectly as foreign currencies tumbled,” said Fawad Razqzada.

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