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Gold scales over three-month high on virus worries, lower US yields

Gold prices rose on Monday to their highest level in more than three months, as a dip in U.S. Treasury yields and worries over surging Covid cases in some Asian countries boosted demand for metal

Topics
Gold trade | Gold Prices | US yield curve

Reuters 

By Brijesh Patel (Reuters) - Gold prices rose on Monday to their highest level in more than three months, as a dip in U.S. Treasury yields and worries over surging COVID-19 cases in some Asian countries boosted demand for the safe-haven metal. Spot gold was up 0.6% at $1,852.39 per ounce by 0318 GMT, after hitting its highest since Feb. 10 earlier in the session. U.S. gold futures jumped 0.7% to $1,851.10. "Treasury yields are falling and on the other hand, there seems to be fears about virus resurgence in Singapore, Taiwan and broader Asian-Pacific markets... driving up ...

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First Published: Mon, May 17 2021. 10:00 IST
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