Gold extended weakness to 1315.6 in European session as the dollar rebounded as G-20 finance ministers meet in South Korea. While the communique, which likely focuses on the currency market, should not alter the long-term downtrend of the dollar, it may decelerate the decline in the near-term. After all, the dollar index has slumped more than -12% since June. Investors would probably use any possible reason to take profits from their short-USD positions.
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Gold Weakens Further as USD Rebounds ahead of G-20 Pledge
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