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Market Update: Gold Nears $1,900
Gold firmed for the ninth session in a row Tuesday, climbing to an over four-month peak of $1,895 an ounce, as Treasury yields continue to retreat while the negative sentiment around the dollar has lent further optimism to the gold bulls. The precious metal has also played a crucial role as an inflation-hedging asset as investors moved to price in a roaring comeback for the US economy and increased price pressures, despite the Fed’s view that such a jump in inflation is transitory. Gold has benefited from some safe-haven bids stemming from rising coronavirus infections in Asia and a sell-off in crypto. [/s2If]
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