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Doubts about the Federal Reserve’s monetary-policy strategy, including scaling back its $120 billion-a-month asset-purchase program, also have influenced trading in gold and other precious metals.

“Indeed, investors have a lot to deal with and, between US tapering, virus cases picking up and lifting traveling restrictions, there is still plenty of uncertainty as to where the global economy is going,” wrote Pierre Veyret, technical analyst at ActivTrades.

“The wait-and-see stance prevails so far and prices will have to either clear the $1814 level or break the $1790 support to register increased market directionality,” the analyst wrote.

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