The precious metal remained on the defensive through the mid-European session and was last seen hovering near the lower end of a one-week-old trading range, just above the $1,775 level.
That said, a fresh leg down in the US Treasury bond yields, along with the prevalent cautious mood around the equity markets might help limit any deeper losses for the safe-haven gold.
Investors might also refrain from placing any aggressive bets, rather prefer to wait on the sidelines ahead of Friday’s release of the closely watched US monthly jobs report .
Previous update: Gold price is retracing the rebound seen earlier in the Asian session, unable to take advantage of the renewed weakness in the US dollar and the Treasury yields.
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The greenback is the strongest across the FX board, helped by rising US government bond yields.
XLM price performance shows the lack of buyers, which has kept it from reclaiming range low at $0.274.
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