Update: Gold held on to its modest intraday gains through the first half of the European session, albeit lacked any follow-through buying and remained confined in the overnight trading range.
That said, a modest uptick in the US Treasury bond yields helped limit any meaningful USD losses and kept a lid on any runaway rally for the non-yielding gold, at least for now.
The US dollar has paused its two-day uptrend, as the risk sentiment is improving, despite the looming fears over the coronavirus spread on the global economic recovery.
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USD’s pullback, covid concerns keep gold price buoyed ahead of Fed minutes.
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