Bengaluru — Gold prices rose for a second straight day on Thursday, supported by an easing dollar and weakness in US Treasury yields. The US Treasury yield curve flattened to almost 10-year lows on Wednesday as investors evaluated the impact of hawkish Federal Reserve policy on the economy even as inflation measures are deteriorating. Gold is highly sensitive to rising rates and yields, which increase the opportunity cost of holding non-yielding assets such as bullion while boosting the dollar, in which it is priced. Spot gold rose 0.5% to $1,252.30 an ounce at 4.23am GMT. It rose 0.3% in the previous session, its largest intraday percentage change since June 6. US gold futures for August delivery rose 0.6% to $1,253.20/oz. "The primary driver appears to be the flattening of the longer-dated US Treasury curve," Oanda senior market analyst Jeffrey Halley said. "The uncontrolled oil price spill in the futures markets may have seen some traders pushing the risk aversion button and buyi...
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