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Higher As Yields Drop

GOLD

The yellow metal has gained in Asia on Wednesday, the rate bottomed out at $1723.94 before bouncing to session highs just below $1735, last trades up $4.69 at $1731.81.

  • Broad risk off trade has seen bonds bid, pressuring yields lower and allowing gold to rally, even as the greenback consolidates its recent gains. Markets are still digesting comments from Fed Governor Powell yesterday where he played down the risk of inflation overshoots. Markets await further comments from Powell and US Treasury Secretary Yellen at the Senate Banking Committee.

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