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Gold prices slips to its lowest as surging US Treasury yields lift dollar

The metal was heading for its biggest weekly decline since early-December

Apeksha Nair | Reuters  |  Bengaluru 

Gold prices edged down on Friday to near their lowest levels this year, pressured by a firm U.S. dollar amid surging U.S. Treasury yields. Spot gold was down about 0.1 percent at $1,289.16 per ounce at 0253 GMT, after hitting its lowest since Dec. 27 in the previous session at $1,285.41. The metal was heading for its biggest weekly decline since early-December. U.S. gold futures for June delivery were 0.1-percent lower at $1,288.30 per ounce. The dollar hovered near a five-month peak against a basket of currencies on Friday thanks to the benchmark U.S. Treasury yield ...

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First Published: Fri, May 18 2018. 15:48 IST
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