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Gold prices retreat, struggle to hold above $1,470

November 21, 2019

Gold futures headed lower Thursday, with the metal struggling to maintain a long-term bullish trend as traders eye prospects for a U.S.-China trade deal which may lower geopolitical risk.

Prices for the precious metal “continue to coil on a seesaw full of trade news,” said Edward Moya, senior market analyst at Oanda. “The base case seems to be we will still see a phase-one deal, even after President Donald Trump signs legislation backing Hong Kong protesters.”

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