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Gold heads for 2nd weekly fall on strong US economy, robust dollar -January 25, 2024 at 11:37 pm EST

* U.S. personal consumption expenditure (PCE) data due at
1330 GMT

* Dollar near 6-week high

Jan 26 (Reuters) – Gold prices were set for their second
consecutive weekly fall on the face of a resilient U.S. economy
that kept the dollar near multi-week highs, while the focus
shifted to a key inflation print due later in the day.

Spot gold was little changed at $2,021.28 per ounce
by 0415 GMT. U.S. gold futures rose 0.2% to $2,021.20.
Both have lost 0.4% so far this week.

The U.S. economy is still resilient and that is capping gold
strength, along with the fact that expectations for the first
rate cut have been pushed further down the calendar this year,
said Kelvin Wong, a senior market analyst for Asia Pacific at

The U.S. economy grew faster than expected in the fourth
quarter as inflationary…

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