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Gold prices drop on long liquidation

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NEW YORK (Scrap Register): Gold has eased on long liquidation, said Afshin Nabavi, head of trading at trading house MKS (Switzerland) SA.

The slide occurred in response to moves in the foreign-exchange market and late-Friday strength in equities, he noted.

With a four-day trading week in many nations due to the approach of Good Friday, traders are putting on limited fresh positions, he said. “There seems to be liquidation going through,” Nabavi added.

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