Gold extended losses and dropped more than 1 percent on Thursday as investors turned to the safety of the U.S. dollar on uncertainty about a resolution of Europe's debt crisis that has stirred up fears for global growth.*****
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Gold fell on Wednesday, after its first rebound in five days the previous day, as investors flocked to the U.S. dollar for safety as doubts flickered over European nations' commitment to a plan to recapitalize the region's banks.*
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German business sentiment fell for the third time in a row in September to its lowest level in 15 months, suggesting Europe's powerhouse economy is slowing as the euro zone's debt crisis reaches a critical new stage.
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Spot gold fell half a percent on Wednesday, pulling back from a rally of 2.6 percent in the previous session as disappointing U.S. consumer data and poor economic sentiment in the euro zone buoyed safe-haven interest in bullion.*
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If the price of gold falls below $1,600 and investors pull back from risky assets, the US dollar could appreciate by as much as 30 percent, Ron William, a technical strategist at MIG Bank, told CNBC
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Spot gold fell on Monday, retreating from a more than 3 percent rise in the previous session when the U.S. Federal Reserve Chairman Ben Bernanke raised hopes that the central bank could consider further stimulus measures to spur the economy.**
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Spot gold dropped 1 percent to $1,747.54 an ounce on Friday, extending a fall of 1.6 percent from the previous session, as risk appetite returned on hopeful U.S. jobs data.
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The yen fell more than 1.5 percent on the dollar in Asia on Thursday after Japanese authorities intervened to stem its strength which was harming the economy of the export-led country.
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Societe Generale page90GLE-FRfalsetrue43pricetruefalsefalsefalse0QuotefalsetrueChartfalsetrueNewsfalsetrueProfilefalsetrueAdd to Watchlistfalsetruetruehttp://api-cdn.cnbc.com/api/chart/chart.aspGE4true3 fell short of second-quarter profit and revenue forecasts, hampered by its Greek exposure...
Gold fell more than 1 percent on Monday, after U.S. President Barack Obama said a deal to reduce the country's deficit had been reached, dampening safe-haven interest that has propelled the precious metal to record highs in recent weeks.
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