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Gold weakens as U.S. dollar drifts to upside

December 18, 2019

Gold futures edged lower Wednesday, losing ground as the U.S. dollar drifted to the upside.

Gold for February delivery GCG20, -0.28% on Comex fell $4.90, or 0.3%, to $1,475.70 an ounce, while March silver SIH20, -0.69% was off 11.7 cents, or 0.7%, at $16.995 an ounce.

Analysts said gold appeared to take a cue from the U.S. currency, with the ICE U.S. Dollar DXY, +0.19% a measure of the greenback against six major rivals, up 0.2% at 97.459. A stronger dollar can be a negative for commodities, making them more expensive to users of other currencies.

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