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Gold turns higher on safe-haven demand

Gold has surged within the last hours, reversing earlier losses and climbing to fresh highs, benefited by its safe-haven status with cautious mood taking control of financial markets.

The yellow metal gained over $15 during the New York session and printed a high of $1677.47 an ounce in recent dealings. However, from a wider view, gold remains within its recent range between $1652/$1683, an inside day, after very sideways sessions last week.

Gold for April delivery is currently trading at the $1675/oz area, 0.4% above its opening price, having been as low as $1661.80 today.

Forex: USD/CAD hovering over 0.9985/90

The Loonie continues to strengthen against the greenback since last week’s tops in the vicinity of 1.0100, despite the prevailing risk-off tone among traders....
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