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Gold price bounces back, but set for another monthly loss

Mar 31, 2021

Source: https://www.mining.com/gold-price-crawls-back-but-set-for-another-monthly-loss/

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Image by jing shi from Pixabay.

Gold prices clawed back on Wednesday, boosted by a weaker dollar, but are still on pace for a third consecutive monthly loss, as elevated US bond yields dented the haven metal’s appeal.

Spot gold rebounded 1.2% to $1,705.91 an ounce by 11:45 a.m. EST, having earlier touched a three-week low of $1,677.61. In New York, gold futures rose 1.1% to $1,704.30 an ounce.

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Image by jing shi from Pixabay.

Gold prices clawed back on Wednesday, boosted by a weaker dollar, but are still on pace for a third consecutive monthly loss, as elevated US bond yields dented the haven metal’s appeal.

Spot gold rebounded 1.2% to $1,705.91 an ounce by 11:45 a.m. EST, having earlier touched a three-week low of $1,677.61. In New York, gold futures rose 1.1% to $1,704.30 an ounce.

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