Gold treads water as Investors await U.S. Inflation report

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Gold steadied as investors awaited Thursday’s U.S. inflation report that may provide clues on the Federal Reserve’s monetary policy path. The 10-year Treasury yield extended declines after falling below 1.5% for the first time in a month on Wednesday, helped by a strong auction, while the rate on the U.S. long bond dropped to a level unseen since early March. This suggests that the Fed’s assurances that elevated inflation was probably temporary is gaining acceptance from investors.

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