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Gold is bouncing back

Elena HolodnyOct 5, 2016, 17:42 IST

Gold's ticking up after getting slammed the previous day.

The yellow metal is up by 0.5% at $1,275.45 an ounce as of 8:01 a.m. ET on Wednesday.

This follows Tuesday when the metal tumbled by over 3%, falling to $1,271.85 an ounce in the mid-afternoon - the weakest level since June 23, the day of the Brexit vote.

Notably, gold is considered a traditional risk-off, "end of the world" trade and is often bought up aggressively by investors in times of stress.

In related news, the US dollar is little changed at 96.09.

Investing.com

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