Gold prices soared on Wednesday, bolstered by a deep retrenchment in global bond yields and a weaker U.S. dollar. In the afternoon trade, XAU/USD was up about 2% to $1,670, its best level since last Thursday. During the day, the U.S. dollar (DXY) dipped more than 1% as the U.S. Treasury curve shifted sharply lower, with the 10-year note sinking more than 20 basis points to 3.80% from its multi-year high of 4.01% set in the overnight session. Meanwhile, the plunge in UK rates was more brutal. For example, the yield on gilts maturing in 30 years plummeted more than 130 basis points to 3.92%, the largest one-day drop ... (full story)