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Gold Eased As Dollar Gained

Gold futures settled down on Thursday

Gold futures settled down on Thursday after traders took profits from a rally above $445 an ounce amid a weakened euro against the dollar and after a new much-hyped gold security launched in New York.

US Gold futures for December delivery fell $3.50 to $441.60 an ounce at 10:49 a.m. on the New York Mercantile Exchange's COMEX division, in a range between $440.20 and its overnight high at $446.40, which was futures' highest price since July 1988.

Gold also got bit by the dollar's rise from an all-time low against the euro at $1.3074 on profit-taking in the euro and a report showing lower U.S. weekly jobless claims.