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According to Reuters, the decline came in conjunction with a shrinking investor appetite for high-risk assets in light of concerns about a second wave of Coronavirus infections in China.
At 5:47 GMT, the spot price of gold was down 0.2% to $ 1725.90 an ounce.
US gold futures fell 0.3% to $ 1732.50.
The yellow metal rose 2.6% last week, its biggest weekly gain since April 10.
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