Gold Holds Weekly Drop as Price Near Most Volatile Since January

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Gold traded little changed as investors weighed oil prices and the strength of the dollar and as a gauge of the metal’s price swings was near the highest since January. Gold futures fell 2.2 percent last week for the first loss in three. Bullion’s 60-day historical volatility is near a level of 18.1 set Dec. 16, data compiled by Bloomberg show. The Bloomberg Dollar Spot Index slipped 0.1 percent today and Brent crude declined 0.4 percent. The metal, which reached a four-year low last month, is down 0.5 percent this year. Holdings in gold-backed funds are near the lowest since 2009, as the dollar trades near a five-year high on the outlook for higher U.S. interest rates, and after slumping oil prices reduced demand for an inflation hedge. By Nicholas Larkin and Jasmine Ng

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