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Gold, yen tumble as outlook brightens

News Date: 8/8/2016 05:01:47
 
Gold, silver and yen recorded wide losses on Monday as risk sentiment grew back following the stellar U.S. payrolls report for July, and after a stream of stimulus measures from global central banks to boost the global economy.

Gold futures lost over seven dollars, or 0.55% to trade at $1,336 an ounce, while silver prices slid 14 cents, or 0.72% to hover around $19.67 an ounce.

Japan's yen shed nearly half a percentage point against the dollar to trade at 102.31, touching almost a week low as the Japanese government embarks on a strong stimulus program to prop up the morbid local economy and its exports.

Oil prices jumped today on new appeals for restraining global output, with Brent crude futures up 1.22% to trade at $44.81 a barrel, while U.S. crude futures gained 1.34% to move around $42.37 a barrel.

Investors await some data later today, with Canada's building permits expected to rise 2.7% m/m in June, compared to May's 1.9% tumble, which would buoy the Canadian dollar.

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