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Gold clings to $1300

FXStreet (Córdoba) - The yellow metal has managed to stabilize around $1,300 an ounce Tuesday after two consecutive days of losses.

On Friday gold plunged more than $20 an ounce but it was contained by the $1,292 area. The metal dropped around 0.5% Monday as easing geopolitical tensions tempered the appeal of the safe-haven.

Investors now turn to Fed Chair Janet Yellen’s speech at the end of the week in Jackson Hole Wyoming.

At time of writing, gold for December delivery was up $1.30 or 0.1% to $1,300.60 an ounce.

As for silver, the gray metal was little changed on the day at $19.65 an ounce after hitting a 2-month low of $19.46 the previous day.

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