Gold erases post-FED gains as Treasury Yields tick higher

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Gold erased gains made in the aftermath of the Federal Reserve’s meeting as bond yields rose, putting pressure on the non-interest bearing metal. US 10-year yields surged to the highest in two weeks, supported by rising inflation expectations and data showing economic growth accelerated in the first quarter. The dollar rebounded from the lowest since February amid gains in U.S. rates, also hurting demand for bullion as it’s priced in the greenback.

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