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Gold producers in Australia were lower on Wednesday after the price of the precious metal touched its lowest point in two months overnight.

Among the bigger miners, Evolution Mining was 2.3 per cent lower, Newcrest Mining was down 1.6 per cent and OceanaGold dipped 0.9 per cent.

The ASX All Ordinaries Gold index was down 1.4 per cent in Sydney to a one-month low.

Gold fell $9 to $1,266 an ounce on Tuesday after earlier touching $1,261, the lowest since October 6. On Wednesday, gold was basically unchanged at $1267 an ounce.

“Gold continues to struggle as investors become increasingly confident that the republican tax plan will be approved,” ANZ analysts commented.

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