Prices of the yellow metal continued to gain as comments by Fed speakers triggered renewed hopes of earlier-than-expected rate cuts by the Fed. An easing in inflation in several regions of Europe also bolstered sentiment, dragging bond yields lower and lifting gold prices.
Ten-year bond yields in the U.S. dropped to a low of 4.25 percent before rising to its current level of 4.29 percent. Bond yields eased in tandem in Europe and Asia as well.
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