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Gold off three week top
29-Jan-20   10:18 Hrs IST
COMEX Gold futures slipped sharply from three week high as traders eyed latest developments on the Coronavirus front. According to the WHO, the coronavirus is not yet an international emergency. An independent panel has twice voted against the declaration. Gold jumped last week as Chinese authorities announced that the novel Coronavirus continues to accelerate. So far over 4,000 cases have been confirmed with 106 fatalities in China. There are over 50 cases outside of China, including five in the United States. Now Germany has also confirmed its first case of the disease bringing the total of infected countries to 16. However, the Gold futures faced selling as worries over Indian demand also affected the mood. COMEX Gold futures are currently trading at $1565 per ounce, down 0.30% on the day.

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