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Reuters
Gold rises as dollar softens, set for small weekly gain
Gold rose on Friday supported by a dip in the dollar and was set for eking out small weekly gains, though persistent jitters over the U.S. Federal Reserve continuing on an aggressive interest rate-hike path weighed on sentiment. “At present levels, gold appears in the short term to have bottomed out,” said Michael Langford, director at corporate advisory firm AirGuide. Data on Thursday showed claims for unemployment benefits fell last week in the United States, highlighting the robustness of the labor market and bolstered expectations of Fed’s aggressive rate hikes.
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