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Metals Stocks: Gold slips as stocks steady though metal still near 3-month highs

Gold futures prices pulled back Monday as stocks stabilized but the metal remained within striking distance of the multi-month highs grazed last week when equities were rocked lower and investors sought gold’s relative safety.

December gold GCZ8, -0.22% fell $3.60, or 0.3%, to $1,232.20 an ounce. With a mild gain Friday, the contract tacked on 0.6% for last week—its fourth weekly rise in a row. The late week’s subdued move, however, left gold, at Friday’s settlement, a buck short of the roughly three-month high it settled at earlier last week.

Still, for October, gold is so far up 3.3% on the heels of six consecutive monthly declines.

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