Gold drops on profit-taking; set for third weekly rise

Gold drops on profit-taking; set for third weekly riseSpot gold was down 0.6% at $1,513.80 per ounce as of 0729 GMT, but is up 1.2% so far this week after rising in the previous two weeks. U.S. gold futures dipped 0.3% to $1,525.50 an ounce. Limiting gold's momentum, global financial markets regained footing on Friday, as China hinted at more support for its economy, amid growing expectations of aggressive stimulus from all the major central banks.


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