Gold steady as rate rise expectations ebb

Gold has held near its highest in more than a year as the US dollar dropped and weak economic data lowered expectations of a December interest rate rise in the United States.

The US dollar hit a more than 2-1/2-year low against a basket of major rivals on reduced expectations for another Federal Reserve rate increase this year, while the euro hit multi-year highs after European Central Bank President Mario Draghi suggested that the ECB might begin tapering its massive stimulus program this fall. 

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