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U.S. Futures Fall With Inflation, Tax Plan in View: Markets Wrap

Reuters

Gold prices dip as firmer U.S. dollar eclipses lower yields

Gold prices dipped on Monday, as an uptick in the dollar dimmed the appeal of the safe-haven metal, although a pullback in U.S. Treasury yields and prospects of a prolonged accommodative interest rate environment limited losses. Spot gold was down 0.4% at $1,883.10 per ounce, as of 0637 GMT, after rising more than 1% in the previous session, as last month’s U.S. non-farm payrolls fell short of expectations. “We are seeing some long covering in Asia today, with risk hedges being unwound after an uneventful news weekend, helped by a slightly stronger U.S. dollar and with bitcoin rallying,” Jeffrey Halley, OANDA senior market analyst, said.

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