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Gold settles at 1-month low after worst week in nearly 2 months

Gold futures finished at their lowest in over a month on Monday, following their worst weekly pullback in nearly two months as U.S. dollar strength continued to sap the value of the yellow metal.

Price action

Market drivers

The latest gains for the U.S. dollar against its main rivals weighed on gold prices on Monday. The ICE U.S. Dollar Index DXY, a gauge of the dollar’s strength against a basket of rivals, was up by 0.3% at 103.19. That was the greenback’s highest level since July 6, according to FactSet…

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