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Gold outlook: Metal not out of woods yet as FOMC decision looms
Gold was able to climb in the last two days of last week despite the US dollar and bond yields pushing higher. The precious metal gained ground on Friday as stocks reversed their earlier gains to close lower before falling further today. In other words, the metal has been supported by haven flows in the last few sessions. Gold was attempting to gain further ground today, but unsurprisingly was struggling to do so. Gold investors were wary of the dollar, which remained strong, and the benchmark US 10-year bond yields, which broke out briefly to hit levels not seen since 2007. For the opportunity cost of holding gold ... (full story)