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Trump turmoil drives gold to two-week high

Reuters  |  LONDON 

By Peter HobsonLONDON (Reuters) - Gold rose for a fifth day on Wednesday as political turmoil and weak economic data in the United States reduced expectations of aggressive interest rate rises this year, pushed down U.S. bond yields and drove the dollar to its lowest in six months. Lower yields reduce the opportunity cost of holding non-yielding gold, while a weaker dollar makes bullion cheaper for non-U.S. investors. Higher interest rates would push yields up and likely boost the dollar. Spot gold was up 1 percent at $1,249.43 an ounce at 1248 GMT, its highest in two weeks and taking its ...

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First Published: Wed, May 17 2017. 20:01 IST