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Gold prices steady despite dollar and yields rise
Gold prices stabilize today after their recent increase, despite the pressure from a strengthening dollar and rising U.S. Treasury bond yields. Spot prices fell slightly by 0.1% to around $4,138 per ounce, while December futures rose to approximately $4,166. This reflects the impact of the dollar’s strength and higher bond yields on gold’s appeal as a safe haven, as investors monitor U.S. monetary policy expectations, which now suggest a 22% chance of a rate hike in October, down from 70% last week. They are also awaiting more inflation and employment data to guide their next decisions. Although gold remains a hedge against inflation, it’s losing some of its attractiveness compared to other financial assets amid expectations of ongoing rate increases.
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