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Gold drops as US macro data beats estimates


Gold prices moved wildly on Labour Day. Bullion first reached the psychological level of $2,000, but was unable to sustain gains and quickly dropped, falling back below that threshold after U.S. macroeconomic data beat estimates.


Gold prices edged lower as the dollar rose after better-than-expected U.S. manufacturing data, while markets await the Federal Reserve’s rate hike decision this week. U.S. gold futures lost 0.4% to $1,991.90.




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