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Gold Rally Extends Into New Year

Gold futures continued to push higher on the first trading day of the new year, as traders looked forward to Friday's pivotal U.S. jobs report.

Feb. gold was up $4 at $1312 an ounce, the highes in more than four months.

Increased physical demand for the precious metal and expectations of easy monetary policy from global central banks have given prices a lift.

Gold jumped 14% in 2017, accelerating higher in December as the dollar weakened.

The Markit Economics' Purchasing Managers' Manufacturing Index for December will be published at 9.45 am ET. The economic analysts are looking for consensus of 55.0, up from 53.9 in the prior month.

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