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Gold backs off as US yields bounce
Until now I have offered no update on Gold today and there was a good reason for that; It was not doing a whole great deal. That said it did managed to push a little higher earlier this afternoon, reaching a high at $2,032.28. No surprise to note; that high came as US yields dipped. However, as those yields have now rebounded, gold has given back those modest gains and a bit more. To be honest, it would be great for me to report; that gold is leading its own path for once, but sadly that has rarely been the case for a long while now. The Asian low, much earlier today was set at $2,022.99 and the metal is now dropping back, closer to that low ahead of the European close, currently trading at $2,024.55
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