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Gold Reverses Lower as Dollar Stabilizes


Gold prices dipped on Wednesday following weak US retail sales data, increasing the likelihood of a Federal Reserve interest rate cut this year.


Recent data showed that US retail sales barely rose in May, signaling weak economic growth in the second quarter.


Meanwhile, the dollar index stabilized at 105.2 as of 19:18 GMT, reaching a session-high of 105.3 and a low of 105.1.


Market activity has slowed due to an official US holiday commemorating the abolition of slavery, with normal operations set to resume tomorrow.



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