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Gold subdued as dollar, yields tick up ahead of US inflation data

Spot gold was down 0.2% at $1,893.07 per ounce by 0308 GMT. Bullion has risen 0.7% so far this week, and was on track for its fourth straight weekly gain.

Topics
Gold Prices | US Dollar | US Inflation

Reuters 

By Brijesh Patel (Reuters) -Gold prices edged lower on Friday, as an uptick in the dollar and U.S. Treasury yields weighed on the safe-haven metal, while investors awaited crucial U.S. inflation data due later in the day to gauge inflationary pressure. Spot gold was down 0.2% at $1,893.07 per ounce by 0308 GMT. Bullion has risen 0.7% so far this week, and was on track for its fourth straight weekly gain. U.S. gold futures eased 0.1% to $1,896.20. "Gold has been a little bit on the defensive side. Technically it was very overbought, and on the fundamental side, the ...

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First Published: Fri, May 28 2021. 09:14 IST
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