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Gold Drops To Daily Low As Raw Commodity Sector Slumps

Kitco News

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(Kitco News) - Gold prices are trading moderately lower and have hit their daily lows in late-morning action Wednesday. The raw commodity sector, including the precious metals, is getting hit hard today by new trade sanctions the U.S. has imposed on China. Gold bulls continue to by stymied by the fact their metal is trading like a raw commodity instead of a safe-haven store of value. August gold was last down $8.80 an ounce at $1,246.70.

Disclaimer: The views expressed in this article are those of the author and may not reflect those of Kitco Metals Inc. The author has made every effort to ensure accuracy of information provided; however, neither Kitco Metals Inc. nor the author can guarantee such accuracy. This article is strictly for informational purposes only. It is not a solicitation to make any exchange in commodities, securities or other financial instruments. Kitco Metals Inc. and the author of this article do not accept culpability for losses and/ or damages arising from the use of this publication.

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