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Gold back above $2,350 as US yields slip

Looking at a number of reactions across the markets following what was a benign US PCE report we can see that Gold has taken advantage of the fall in US treasury yields just now. The 2 Year note is now falling towards 4.90% and that has helped gold to make another push above the well noted $2,350 mark. As to how far this will extend is unclear, but right at this moment the metal seems to have the wind behind it from those lower yields, falling dollar and rising stock futures. Gold is currently trading at $2,352.50 

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