Gold prices finish solidly higher Monday, bouncing back from sharpest daily slide early November on Friday

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Gold prices settled modestly higher Monday, as investors opportunistically bought gold after a withering downturn put in on Friday. The solid gain for bullion came despite a recently buoyant dollar, which likely capped the upside moves for metals on the day. The ICE U.S. Dollar Index DXY, a measure of the currency against a basket of six major rivals, was up 0.4%. A stronger dollar can make assets priced in the currency more expensive to overseas buyers. February gold added $15.50, or 0.8%, to settle at $1,850.80 an ounce, following a weekly slide of 3.2% put in on Friday, highlighted by a one-day slump of more than 4%, representing its steepest daily percentage drop since November, FactSet data show.
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