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Gold headed for a seventh weekly advance, as the US government shutdown added another layer of uncertainty for investors seeking signals on the Federal Reserve’s monetary-easing path.
Bullion held near $3,860 an ounce, after ending Thursday slightly lower as traders booked profits following a five-day rally that pushed prices to a record earlier in the session. The torrid pace of the advance has left gold vulnerable to pullbacks, with technical indicators showing it’s been trading in overbought territory for the past month.