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Gold posts weekly loss, eyes on Fed

FXStreet (Córdoba) - Gold edged higher on Friday although the recovery was not enough to erase weekly losses and posted the seventh loss in eight.

Gold traded between $1,062 and $1,078 an ounce before settling slightly above $1,075, up 0.31% on the session but still down 0.8% for the week. The metal oscillated in a limited range over the last days as investors hold a cautious stance before the Federal Reserve policy decision on Wednesday.

The metal still hovers near a 6-year low scored at $1,045 an ounce on Dec 3.

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USD to appreciate in response to Fed decision - UBS

Central bank meetings, PMIs and inflation data will keep markets busy next week, said UBS analyst team, although all eyes will be on the highly anticipated first rate hike by the US Federal Reserve in almost a decade on Wednesday.
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