Gold continues its downturn, suppressed by strong Greenback

Source: WBP Online
© ScanPix/Reuters
Bullion prices dropped on Friday as traders expanded selling rally, holding gold prices below the psychological resistance level of $1,100. The yellow metal prices hovered slightly above $1.080 by 07:10 AM GMT. Meanwhile, relatively strong GDP data from the US kept the door opened for a rate hike in September. Therefore, analysts anticipate further downside in bullion, which could test $1,000 soon.
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