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Gold At Highest In More Than Five Months

WASHINGTON (Alliance News) - Gold futures continue to push higher, ending at their highest ...

Alliance News 17 April, 2017 | 7:07PM
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WASHINGTON (Alliance News) - Gold futures continue to push higher, ending at their highest since November 4 amid concerns that tensions between North Korea and the US may soon escalate.

With the dollar weakening and traders looking for a safe haven, gold prices have risen sharply in April. Downbeat US manufacturing data also boosted gold's appeal today.

June gold climbed USD3.40, or 0.3%, to settle at USD1,291.90/oz.

The New York Fed said its general business conditions index tumbled to 5.2 in April after dipping to 16.4 in March, although a positive reading still indicates growth. Economists had expected the index to edge down to 15.0.

The bigger than expected drop by the headline index came amid a notable slowdown in new orders growth, as the new orders index plunged to 7.0 in April after jumping to a multi-year high of 21.3 in March.

Copyright RTT News/dpa-AFX

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