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Gold falls as Treasury yields climb
Gold prices fell today, Thursday, by 0.4% to approximately $4,048 per ounce, due to rising U.S. Treasury bond yields which increase the cost of holding gold as a safe haven. This comes amid market expectations of a potential interest rate hike by the Federal Reserve in September, after the U.S. central bank kept rates unchanged, maintaining uncertainty about its next move. Additionally, geopolitical tensions, including escalating conflicts in the Middle East and airstrikes on Iran, support the volatility of gold prices. However, rising yields and persistent oil prices are putting downward pressure on the yellow metal as a hedge asset.
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