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Gold trading range for the day is 30207-30621. Gold prices dropped as a stronger dollar outweighed the impact of uncertainty created by Italy's election result and fears of a possible global trade war. Germany's SPD decisively backed another coalition with Chancellor Angela Merkel's conservatives, clearing the way for a new government after months of political uncertainty.
Investor appetite for a safe-haven asset such as gold rises during times of geopolitical and financial uncertainty.
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