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Gold falls on bond yields, U.S. tax doubts limit losses

Reuters  |  NEW YORK/LONDON 

By Renita D. Young and Peter HobsonNEW YORK/LONDON (Reuters) - Gold prices turned lower on Friday as U.S. Treasury bond yields rose, but losses were limited by weaker stock markets and the dollar, which fell due to uncertainty over U.S. tax reform.A rise in U.S. bond yields pressures gold by reducing the attractiveness of non-yielding bullion, while a weaker dollar makes bullion cheaper for holders of other currencies. "A higher yield tends to increase the cost to carry gold, and we had a little uptick in the yield curve slope," said Bart Melek, head of commodity strategy at TD Securities in ...

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First Published: Sat, November 11 2017. 01:19 IST