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Gold gains as Treasury yields drop after US GDP data
Gold edged higher on Thursday as Treasury yields fell after U.S. GDP data highlighted that pace of inflation fell, while focus shifted to PCE data for further hints on the Federal Reserve’s interest rate cut strategy. Spot gold rose 0.32% to $2,019.124 per ounce. U.S. gold futures settled 0.1% higher at $2,017.80. Benchmark 10-year Treasury yields slipped after the GDP data. The U.S. economy grew faster than expected in the fourth quarter amid strong consumer spending, with growth for the full year coming in at 2.5%. “The economy is running a lot hotter than expected, but at the same time, we are having a ... (full story)