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Gold Sinks Most in a Year as Trade Truce Deals Blow to Bulls

  • Bullion slumps as U.S., China agree to restart negotiations
  • Investors to focus on U.S. jobs data amid rate-cut speculation
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Gold tumbled back below $1,400 an ounce after the U.S. and China reached a truce in their trade war, dealing a blow to havens.

Prices fell the most in a year after Presidents Donald Trump and Xi Jinping agreed to resume negotiations in a bid to resolve differences between the world’s two biggest economies. Still, the setback may be temporary as investors now train their focus on U.S. jobs data due Friday for clues on the Federal Reserve’s next move on policy.