Gold futures end at 1-week low

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Gold futures fell Thursday to settle at their lowest in a week. The decline coincided with steep declines among U.S. benchmark stock indexes, which can prompt some investors to sell the metal to make up for losses in other assets. Gold is still trading above $1,900 and “this is keeping the hope alive for the price to target the $2,000 mark,” said Naeem Aslam, chief market analyst at AvaTrade. The “biggest risk event for the gold rally” is Friday’s U.S nonfarm payrolls data and “only a strong reading can break the back” of a gold rally, he said. December gold fell $6.90, or nearly 0.4%, to settle at $1,937.80 an ounce. Prices for the most-active contract finished at their lowest since Aug. 27, according to Dow Jones Market Data.
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