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

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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