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Gold Extends Losing Skid

Gold futures fell Tuesday morning, slipping back toward the $1300/oz mark.

The UK unemployment rate remained unchanged at a 43-year low and real wages increased amid falling unemployment in the first quarter, the Office for National Statistics said Tuesday.

The ILO jobless rate remained at 4.2 percent in the first quarter, but down from 4.6 percent a year ago. This was the joint lowest since 1975.

In the absence of US economic data, June gold was down $11 at $1306/oz, the lowest in a few weeks. Gold has been drifting lower 5 of the past six sessions.

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