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Metals Stocks: Gold slides in wake of dollar-supportive comments by Trump

Gold prices fell sharply on Friday, after the dollar got a boost from comments by U.S. President Donald Trump.

Prices began to fall in electronic trading on Thursday after CNBC reported that Trump said he wanted to see a stronger dollar and expressed optimism that the battered U.S. currency would strengthen. On Friday, February gold GCG8, -0.77% was off $11.40, or 0.8%, at $1,351.50 an ounce.

The precious metal is still up around 1.4% for the week to date, readying for its sixth such gain in seven weeks.

Gold’s losses came in contrast to Thursday’s regular session, when prices finished $6.60 higher at $1,362.90, the highest settlement for a most-active futures contract since Aug.

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