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Gold steps back as US yields pick up

The US treasury yields are on the rebound again right now. That has seen the 2 Year note rise back above 4.86%, from an earlier low at 4.796%. That might not seem like a huge move to anyone, but I can assure you, it is enough to shift the Yen pricing dynamic, as just covered in the previous update. What it has also done is to send gold back down. Earlier gold rose to 1,993.45. It has just this minute dipped back underneath 1,985. There is absolutely no doubt all these moves are connected as the immediate price clearly shows. Gold is just now trading at 1,984.40

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