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Gold rises as U.S. dollar, Treasury yields retreat

From reuters.com

Gold edged higher on Wednesday as the U.S. dollar and Treasury yields pulled back, and the prospect of massive U.S. fiscal stimulus boosted the metal's appeal as an inflation hedge. Spot gold rose 0.2% to $1,859.20 per ounce by 0753 GMT, while U.S. gold futures gained 0.8% to $1,858. "The big picture is it's still a very constructive year for gold. With real yields remaining rather negative and the dollar continuing its path lower as the year unfolds, gold remains an attractive proposition," said IG Market analyst Kyle Rodda. "But I wouldn't be surprised if we see dips or a short-term downtrend in gold as the market ... (full story)

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  • Category: Fundamental Analysis