Gold flat as dollar strength counters weaker U.S. bond yields
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Gold prices were flat on Thursday, as an elevated dollar weighed on greenback-priced bullion and countered support from lower Treasury yields, with the metal’s outlook already dulled by an aggressive Federal Reserve stance on inflation. A stronger dollar makes gold less attractive for buyers holding other currencies. U.S. Treasury yields fell on Wednesday, tracking losses on Wall Street, after poor U.S. housing data added to growing slowdown concerns amid aggressive monetary tightening by the Fed, buoying demand for zero-yield gold.
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