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US dollars, shares in focus



Gold prices dipped Monday on a stronger US dollar and stock market recovery, as hopes of stimulus from major central banks eased fears of a steep global economic downturn.

The spot gold fell 0.5% to $ 1,550 per ounce. kl. 0114 GMT.

US gold futures fell 0.4% to $ 1,517.60 ounces.

The dollar index, against a basket of six major currencies, hovered near a two-week high reached on Friday.

MSCI's broadest index of Asia-Pacific shares outside Japan gained 0.25%.

Wall Street shares rebounded on Friday after a report stated that the German government would be willing to take on new debt and launch stimulus measures to counteract any recession.

On Saturday, China's central bank unveiled a key interest rate reform to help reduce corporate borrowing costs and support a declining economy.

Investors await the Federal Reserve & # 39; s Jackson Hole symposium this week. Businessmen see a 69% percent chance of a 25 basis point cut in September.

SPDR Gold Trust, the world's largest listed fund with a gold-backed fund, said its stake fell 0.1

0% to 843.41 tonnes on Friday. [19659002HedgefundandmoneytrimmetsinbullishpositioninCOMEXyellowlogcutnetlongpositionsinsilvercontactsandcontent13AugustsadenamericanCommodityFuturesTradingCommission(CFTC)onFriday

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