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Spread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 69% of retail investor accounts lose money when trading spread bets and CFDs with this provider. You should consider whether you understand how spread bets and CFDs work, and whether you can afford to take the high risk of losing your money.

Gold price lower ahead of key China-US data events

Gold extended losses on Monday but recovered slightly from last week before the release of key economic data from the US and China, while rising US Treasury yields has weighed on gold in recent sessions.

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(Video Transcription)

Gold makes small recovery

With Angela Barnes, IG financial analyst

Well, gold extended losses today, but has recovered slightly from last week before the release of key economic data from the US and China as the market struggles for clear direction.

Looking at the gold price chart today, gold is down about 0.35% today and it's trading around $1,936 an ounce. So, rising US treasury yields driven by concerns over higher interest rates and a US ratings downgrade has weighed on gold prices in recent sessions and a recovery in the US dollar has also put pressure on gold.

Worst peformace in a month

On Friday, the precious metal saw some relief following weaker than expected US non-farm payrolls data. However, it still closed the week about 1% lower, marking its worst performance in over a month. Although since the start of the year, gold has gained about 8%.

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