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Gold prices rise, head for highest finish in about 8 weeks

December 26, 2019

Gold futures headed higher Thursday, on pace for a third session of gains in a row and the highest finish for the precious metal since late October.

Bullish gold investors say bullion has benefited in recent trade on doubts about a China trade deal being completed, concerns about the implications of President Donald Trump’s recent impeachment by the House, and concerns about stock market valuations being stretched at least in the U.S.

“Gold and silver are rising on apprehensions over US-China trade deal and Trump and his impeachment proceedings. Physical gold demand is still lagging gold investment demand,” wrote Chintan Karnani, chief market analyst at Insignia Consultants, in a Thursday research note.

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