Gold remained weak as dollar climbed towards its highest in over a year on concerns about global market contagion triggered by recent declines in the Turkish lira.
The U.S. dollar holding steady near a recent peak as concerns about a Turkey crisis and China’s economic health weighed on emerging market currencies.
The United States ruled out removing steel tariffs that have contributed to a currency crisis in Turkey even if Ankara frees a U.S. pastor, as Qatar pledged $15 billion in investment to Turkey, supporting a rise in the Turkish lira.
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