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Commodities eye

Gold market showing signs of bottoming out

TOKYO -- Gold prices appear ready for a rebound after floundering for some time as investors seek the safe-haven asset amid concerns over the global economy, with the negative impact of a U.S. interest rate hike mostly factored in already.

     Gold traded at around $1,135 per troy ounce in off-hours trading in New York on Friday, climbing about $20 on buybacks by speculators after the Federal Reserve Board's decision Thursday to forgo a rate hike. Gold, which does not earn interest, loses attractiveness when interest rates rise.

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