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Gold extends losses to trade solidly lower as U.S. stock market rallies

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(Kitco News) - Gold prices have added to early losses that are now in double-digits in late-morning trading Wednesday. Gold selling intensified after the release of notes from a telephone call between President Trump and the leader of Ukraine. That phone call prompted the U.S. House of Representatives on Tuesday to open up an impeachment inquiry on Trump. Traders and investors are apparently deeming the notes as not too damaging to Trump, as the U.S. stock market rallied in the wake of the notes' release, which in turn put downside price pressure on safe-haven gold and silver markets. December gold was last down $14.50 at $1,525.70.

 

Live 24 hours gold chart [Kitco Inc.]

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