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Gold prices sink 1% at low, heading for sharpest weekly skid in nearly a year

October 11, 2019

Gold futures on Friday headed sharply lower, putting bullion on track to record its steepest daily drop in October, dragging the commodity to its sharpest weekly fall in more than a year, amid growing optimism on Sino-American trade talks and progress on Brexit.

December gold on Comex GCZ19, -0.80% was down $17, or 1.1%, to trade at $1,484.30 an ounce, falling further below the psychologically significant level at $1,500. Bullion’s decline, if it holds, would push the metal to its weakest level since Oct. 1 and produce its sharpest daily slump since Sept. 30, according to FactSet data.

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