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Gold hovers near $1,500 after pulling back from 6-year high

September 11, 2019

Gold futures edged higher Wednesday, hovering near the $1,500-an-ounce level after pulling back this week from more-than-six-year highs as haven demand dried up on an easing of near-term U.S.-China trade worries and a revival in appetite for stocks.

Gold for December delivery GCZ19, +0.01% on Comex rose 50 cents, or less than 0.1%, to $, 1499.70 an ounce, while December silver SIZ19, +0.08% rose 2.4 cents, or 0.1%, to $18.21 an ounce. Gold, which hit a string of more-than-six-year highs as stocks sold off in August against a backdrop of increased equity market volatility and an escalating U.S.-China trade war, has pulled back this month as equities steadied. Gold is down around 1% so far this week and 1.9% since the end of August.

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