Gold prices snap 2-session win streak as U.S. dollar halts skid

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Gold prices settled sharply lower Wednesday, ending a two-day string of gains, as the U.S. dollar halted its skid and as commodity investors watched for minutes from the Federal Reserve’s July policy meeting, which could provide further insights on the central banker’s outlook for the U.S. and global business. December gold finished down $42.80, or 2.1%, to end at $1,970.30. The dip for gold comes as the dollar popped off a two-year low. A measure of the buck, the ICE U.S. Dollar Index , which gauges the dollar against six currency pairs, including the euro and the British pound , was up 0.5% at 92.714. Weakness in the dollar can raise the appeal of commodities priced in the currency to overseas buyers. The Fed’s meeting minutes are released at 2 p.m., about a half-hour after the settlement for metal’s on Comex.
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