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Higher US yields push Gold back below $2,000

As noted here in the previous 2 updates, there has been quite a reaction to the higher than expected US Producer Price inflation report and that has now seen yields in the 2 Year and 10 Year notes rise by around 10bp. That has been enough to push gold back down to below $2,000 per ounce again. The metal had traded to above $2,008 earlier today. It is just now closer to $1,995

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