Gold inches down as stronger dollar offsets lower US bond yields
Long covering is occurring in Asia with risk hedges being unwound, analyst says
07 June 2021 - 07:21
Bengaluru — Gold prices edged lower on Monday as an uptick in the dollar dented the metal’s appeal, though lower US bond yields and prospects of a prolonged accommodative interest rate environment limited losses.
Spot gold was down 0.2% at $1,886.76 per ounce at 5.08am, after rising more than 1% in the previous session, as US May non-farm payrolls fell short of expectations...
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