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Gold treads water as investors await US inflation report
Spot gold slipped 0.1% to $1 886.07 an ounce at 6:05 a.m. in London, after dropping 0.2% on Wednesday.
By Ranjeetha Pakiam, Bloomberg
10 Jun 2021 08:11
Image: Christopher Pike/Bloomberg
Gold steadied as investors awaited Thursdayâs US inflation report that may provide clues on the Federal Reserveâs monetary policy path.
The 10-year Treasury yield extended declines after falling below 1.5% for the first time in a month on Wednesday, helped by a strong auction, while the rate on the US long bond dropped to a level unseen since early March. This suggests that the Fedâs assurances that elevated inflation was probably temporary are gaining acceptance from investors.
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