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Gold prices set to pare its gains for the week, equities gained

Gold set to snap 5-week rally on U.S. data, weak China demand

Within 24 hours, the gold market has experienced a change that the prices in the spot price and domestic futures market are set to come under pressure on Friday. Transformation has been such as the precious metal could eventually give up all that gained this week. During this period, equities have gained worldwide, attracting investors to the stock markets.

Bullion gained most of January to this week as weakness in global equities buffed its safe haven appeal, and for purchases at a brisk pace by main buyer China ahead of the Lunar New Year holiday, which starts today .

However, equities have stabilized after strong U.S. data investors be concerned about capital flight from emerging markets, and China has entered a one-week break, leaving the gold without a key support during Asian hours.

Read more news at Reuters >>>>

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About Narmada Ji

Myself Technical Analyst and Owner Investment Growth Services (100mcxtips.com). 100McxTips is a Market Leader MCX Commodity Advisory, which has a strong hold in offering trusted MCX Tips and accurate as well as Commodity Market Tips. For more mcx, commodity market news by 100McxTips, follow us on Twitter @100mcxtips and on Facebook at facebook.com/100mcxtips.

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