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Gulf Today Report
Gold prices climbed on Thursday as easing US Treasury yields and dollar support the metal’s appeal.
Spot gold was up 0.1% at $1, 794.67 per ounce by 01:15 GMT while US gold futures rose 0.1% to $1,795.40 per ounce.
The US 10-year Treasury yield was below 1.6%, affecting the opportunity cost of holding non-yielding bullion.
Dollar declined by 0.1% against its rival currencies, making gold less expensive for the holders of those currency.
Market participants await a European Central Bank meeting due later today and a US Federal Reserve policy meeting next week.
According to a poll, the US economy will grow at its fastest annual pace in decades this year and outperform most of its major peers, but another COVID-19 surge was the biggest risk over the next three months.
Spot gold fell 0.6% to $1,885.81 per ounce by 0618 GMT, declining 4.3% so far in the month in what would be its worst monthly performance since November 2016. US gold futures were down 0.5% at $1,893.30.
Spot gold hit its highest since early October 2012 at $1,788.96 in early trade, and by 0958 GMT was at $1,787.31 per ounce, up 0.4%. U.S. gold futures were up 0.3% at $1,805.10 per ounce.
Spot gold was down 0.1% to $1,730.48 per ounce by 03:40 GMT while US gold futures were also down 0.1%, at $1,728.10 per ounce.
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