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Gold slumps to fresh 5-year lows

FXStreet (Córdoba) - Gold fell sharply on Friday and scored a fresh 5-year low as the dollar continues to strengthen amid increasing expectations the Federal Reserve will raise its benchmark Federal Funds Rate for the first time in more than nine years.

Gold fell more than 1% in post-Thanksgiving trade and scored its lowest level since January 2010 at $1,052 an ounce before settling around $1,056/oz.

The metal posted its sixth weekly loss in a row. Ever since peaking above $1,190 an ounce on Oct 15, gold has fallen more than 10%, having closed only six out of the last 32 trading sessions into the green.

USD/COP climbs above 3100 after Colombian central bank rises rates by 25bp

The Colombian peso weakened in the market after the decision of the central bank Governing Council to raise the intervention rate by 25 basis points to 5.50%. Most analysts were expecting a bigger rate increase.
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EUR/GBP to continue trending lower – Rabobank

According to Jane Foley, analyst at Rabobank, monetary divergences between the Bank of England and the European Central Bank will continue to play a role in EUR/GBP.
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