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Gold retreats from $1,600 as markets eye US reaction after Iran attacks
Wednesday, 8 January 2020 19:31 WIB | PRECIOUS METALS |SILVERPalladiumEMASGOLD

Gold surged past the $1,600 level for the first time in nearly seven years earlier on Wednesday after Iran conducted retaliatory attacks against U.S. forces in Iraq, but the metal pared gains as investors awaited reaction from the White House.

Spot gold rose 0.3% to $1,578.76 per ounce, having earlier surged as much as 2.4% to its highest since March 2013 at $1,610.90. U.S. gold futures rose 0.37% to $1,580.2 per ounce.

Elsewhere, palladium hit another all-time peak of $2,090 an ounce on a sustained supply deficit, and was last up 1.3% to $2,077.75.

Silver was up 0.3% at $18.44 per ounce, after earlier hitting its highest since early September at $18.85, while platinum fell 0.3%, to $967.85 per ounce.

Source : Reuters

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