Gold off 7-month low on dollar weakness, but yields weigh

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Mon, 2021-02-22 03:48

Gold prices inched higher on Monday after hitting a more than seven-month low in the previous session, as support from a weaker dollar eclipsed pressure from firmer Treasury yields.
Spot gold rose 0.1 percent to $1,783.56 per ounce by 0304 GMT, having touched its lowest since July 2 at $1,759.29 on Friday.
US gold futures gained 0.4 percent to $1,784.40.
“The dollar coming off is helping to negate the rise in Treasury yields,” said Howie Lee, an economist at OCBC Bank.

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