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08.01.2016 06:32 Gold retreated

Gold slid to $1,103.10 (-0.42%) retreating from a nine-week high after the People's Bank of China set the midpoint rate of the yuan higher. This move supported Asian stocks and reduced demand for bullion. Some analysts say that now volatility on Chinese stock markets drives gold.

Assets of SPDR Gold Trust, world's biggest gold-backed exchange-traded fund, rose 0.65% to 645.13 tonnes on Thursday, the first gain in three weeks.



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