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Gold fell 1% to $3,980.40 an ounce, its lowest level since July 17, or about three and a half months, while U.S. futures declined 1% to $3,991.10. The precious metal is heading for a second consecutive monthly loss, down 4.3% since the start of October amid rising oil prices, inflation concerns and strong U.S. growth data, which boosted expectations of a Federal Reserve interest-rate hike in December.
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