Gold futures suffer back-to-back losses

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Gold futures suffered a second straight loss on Wednesday, as “optimism surrounding the latest vaccine developments” supported risk sentiment, “ultimately weighing on safe-haven assets,” said Lukman Otunuga, senior research analyst at FXTM. “However, the rapid rise in the number of coronavirus cases in Europe and the United States continues to foster a sense of unease and caution. The precious metal is likely to derive strength from a weaker dollar in the near term until more news on the vaccine front is revealed,” he said. December gold declined by $11.20, or 0.6%, to settle at $1,873.90 an ounce.
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