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Gold prices see muted trade as dollar’s run-up steadies

September 22, 2020

Gold prices on Tuesday saw lackluster moves as the dollar’s recent jump, on the back of concerns about fresh COVID-19 lockdowns implemented in London and other parts of Europe, subsided somewhat.

Rising cases in Europe and in the U.S. have unsettled investors about the global economic recovery, driving investors into dollars, which has weighed on bullion. On top of that, investors also have unwound some of their gold holdings as a part of Monday’s equity-market turbulence, which added to the pressures around precious commodities.

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