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Gold keeps to 4-week peak

On Monday, gold stood close to the previous session's four-week peak during European hours, as market participants looked ahead to the Federal Reserve's policy gathering later this week, while keeping an eye open on fresh political uncertainty in American.

In New York, December delivery gold futures sagged 0.06%, trading at $1,276.05 per troy ounce.

The Fed is not actually supposed to take action on interest rates at the conclusion of its two-day policy gathering on Wednesday. The US number one financial institution is going to publish its latest statement as traders look for any change in language that could give more clearly as for a December rate lift.

A rate lift ahead of the November 8 presidential election is considered to be highly unlikely. Financial markets are currently pricing in a less than 10% probability of a rate lift next week.

On Friday, the major precious metal tacked on to $1,285.40, the highest value since October 4, after the FBI informed that it was on the verge of reviewing more emails related to Hillary Clinton's private email use, thus driving worries regarding a surprise election outcome.


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