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Gold Prices Little Changed As Dollar Slips

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Last Friday, the U.S. released softer than expected consumer inflation information that suppressed expectations for 4 rate hikes by the Federal Reserve this year. The news pressured United States 10-Year treasuries, with the yields dropping to 2.96%, while the dollar also lost assistance.


In other rare-earth element trade, silver futures slipped 0.1% to $16.735 a troy ounce, and platinum futures climbed 0.2% to $926.0 an ounce. – Gold costs were little bit altered on Monday as the dollar opened the week slipping versus the other major currencies amid sagging U.S. 10-year Treasury yields.

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The U.S. Dollar Index that tracks the greenback against a basket of 6 significant currencies last stood at 92.28, down 0.17%. The greenback reached this years brand-new high last Wednesday at 93.22, then lost its rally to drop to the 92 level on Monday. Its uptrend given that mid-April is still undamaged.

Markets also set eyes on the U.S. retail sales data on Tuesday and Japans GDP on Wednesday to try to find more directional drivers.

Gold futures for June shipment on the Comex department of the New York Mercantile Exchange was down 0.3, or 0.02%, to $1,320.2 a troy ounce by 1:02 AM ET (05:02 GMT).

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