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Gold up, poised for more gains on soft U.S. rate outlook

Reuters  |  LONDON 

By Eric OnstadLONDON (Reuters) - Gold climbed on Monday and was likely to see further gains after the dollar slumped to multi-month lows on the back of data that pointed to weak U.S. inflation and dampened prospects for rate hikes. "The dollar continues to be on the back foot and yields have dropped back somewhat from their relatively elevated positioning lately," said analyst Jonathan Butler at Mitsubishi in London.Spot gold was up 0.6 percent at $1,235.57 per ounce at 1353 GMT, while U.S. gold futures for August delivery rose 0.6 percent to $1,234.70 per ounce."If gold remains at $1,230 or ...

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First Published: Mon, July 17 2017. 19:38 IST
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