Gold dropped on Tuesday but held within its recent trading range between $1800-$1765, as the US Treasury yields surged and pushed the US dollar higher alongside.
Gold is extending Tuesday’s decline towards $1760 as the yellow metal is so far thwarted by the 55-day moving average at $1800.63.
Gold dropped to one-and-half-week lows during the mid-European session, albeit recovered a bit thereafter.
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GBP/USD stays pressured below 1.3900, as a rush to risk-safety put a bid under the US dollar while heading into the London open.
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