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Gold gains as bonds fall and Lebanon peace
Gold prices rose today following a decline in U.S. Treasury bond yields and the announcement of a partial ceasefire between Israel and Hezbollah in Lebanon, amid market anticipation for peace negotiations between the United States and Iran. The spot price of gold increased by 0.5% to $4,507.56 per ounce, while U.S. futures contracts for August delivery rose by 0.7% to $4,538. The drop in 10-year U.S. Treasury bond yields reflects an increased appeal of gold as a safe haven asset.
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