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. Last Updated: 07/27/2016

Gold Price Weakens

LONDON -- Gold traded weakly below $310 in early European business Tuesday, weighed down by easier lease rates, falling options volatilities and progress toward solving a cash crisis at gold miner Ashanti Goldfields, dealers said.

Swift losses on light fund selling during late New York business took spot gold below $310 support, opening the way to $300 as the next level with resistance at $318, dealers said.

London gold fixed at $309.00 a troy ounce versus Monday afternoon's $311.75, its lowest since Oct. 1.