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PRECIOUS-Gold slumps as dollar, stocks jump after FBI clears Clinton
November 7, 2016 / 1:52 AM / a year ago

PRECIOUS-Gold slumps as dollar, stocks jump after FBI clears Clinton

Nov 7 (Reuters) - Gold retreated on Monday as the U.S.
dollar and stocks strengthened after the FBI said it stood by
its earlier finding that no criminal charges were warranted
against Democrat Hillary Clinton just two days ahead of the U.S.
    * Spot gold was down 0.7 percent at $1,295.01 an
ounce at 0127 GMT. The metal hit a low of $1,287.86 earlier in
the session.
    * U.S. gold futures fell 0.7 percent to $1,295.80
per ounce.
    * Stocks rose and the dollar rallied against its major
rivals on Monday after the FBI said it stood by its earlier
recommendation that no criminal charges were warranted against
U.S. presidential candidate Clinton.  
    * The dollar index, which measures the greenback
against a basket of major currencies, was up 0.22 percent
    * U.S. job gains in October showed continued progress
towards the Federal Reserve's goals, two Fed policymakers said
on Friday, with both signalling they would support a rate
increase at the U.S. central bank's next meeting, in December.
    * U.S. employers maintained a strong pace of hiring in
October and boosted wages for workers, which could effectively
seal the case for a December interest rate increase from the
    * The U.S. labour market is close to full strength and the
economy could at some point overshoot the Fed's goals for
employment and inflation, Fed Vice Chairman Stanley Fischer said
on Friday. 
    * Business activity in the euro zone during October was not
as robust as first thought, a survey showed on Friday, adding to
signs the bloc's recovery remains on track but is struggling to
gain momentum. 
    * Hedge funds and money managers raised their net long
position in COMEX gold contracts for the second straight week,
in the week to Nov. 1, and increased it in silver for the first
time in five, U.S. government data showed on Friday.
    * Gold prices in India swung to a discount in the week to
Nov. 4 as a rally in prices dampened retail demand and prompted
jewellers to reduce purchases, while demand in leading consumer
China went up on safe-haven buying on worries over the U.S.
presidential election. 
    * For the top stories on metals and other news, click
    0700  Germany        Industrial orders              Sep
    0930  Euro zone      Sentix index                   Nov
    1000  Euro zone      Retail sales                   Sep
    1500  U.S.           Employment trends              Oct 

 (Reporting by Apeksha Nair in Bengaluru; Editing by Joseph

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