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Market Update: Gold Eases Off Four-Month Peak
Gold slipped below the $1,900 an ounce level, making a dramatic reversal after hit an over four-month high of $1,913 earlier this session as strong momentum in the dollar spooked investors from the precious metal. The sharp moves came after several Fed officials once again downplayed the risk of a sustained rise in inflation, which also pushed US Treasury yields higher. On top of that, Richard Clarida, the Fed’s vice-chair, added that the US central bank should be ready to begin discussing tapering in upcoming meetings, in line with FOMC minutes released early this month. [/s2If]
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