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Thursday, September 29, 2022

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Gold Slips with Rising Yields as Traders Weigh Data, Fed Hiking

The price drop was “very contained” and the precious metal “arguably held up relatively well above $1,770 given the earlier renewed strength in the dollar which has since reversed,” said Nicky Shiels, head of metals strategy at MKS PAMP SA. “Overall, persistent US dollar strength and the climb up in US yields ensures rallies are capped.”

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