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2020.01.0710:12:00UTC+00Gold Holds Steady In Cautious Trade

Gold prices were little changed in cautious trade on Tuesday as investors await Iran's next move in response to the U.S. killing of Qassem Soleimani, commander of the Quds Force of Iran's Islamic Revolution Guards Corps.

The Iranian response could come in "many different guises, many different places at any time," said Gerald Feierstein, former U.S. ambassador to Yemen.

Markets are reacting to conflicting reports about American military repositioning troops in preparation for leaving Iraq.

There was some confusion earlier in the day after a letter surfaced showing that U.S.-led coalition troops would leave Iraq. The Pentagon later clarified that it was a mistake and "there has been no decision whatsoever to leave."

Spot gold traded flat at $1,565.62 per ounce, after having touched $1,582.59, its highest level since April 2013 in the previous session. U.S. gold futures were down 0.1 percent at $1,567.35.

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