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Gold heads for biggest weekly loss

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(iStock)
(iStock)

Singapore - Gold is on course for the biggest weekly loss in two years as expectations increase that the Federal Reserve is on the verge of raising US interest rates, buoying the dollar and pushing bullion toward the lowest level in four months.

After an eight-day losing run, bullion for immediate delivery was little changed at $1 255.03 an ounce at 3:10 in Singapore, according to Bloomberg generic pricing.

The metal fell 1% to close at $1 254.38 on Thursday, the lowest level since June 7, and it is down 4.6% this week, the most for a week since October 2014.

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ZAR/USD
16.78
(-0.14)
ZAR/GBP
21.49
(+0.07)
ZAR/EUR
19.73
(+0.03)
ZAR/AUD
12.10
(+0.19)
ZAR/JPY
0.16
(-0.19)
Gold
1913.33
(-0.18)
Silver
24.62
(-1.54)
Platinum
885.00
(+0.23)
Brent Crude
42.14
(-3.94)
Palladium
2294.00
(+0.35)
All Share
53319.08
(-2.48)
Top 40
49153.11
(-2.47)
Financial 15
9519.48
(-3.27)
Industrial 25
71014.52
(-2.13)
Resource 10
53931.91
(-2.72)
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