Gold dips as markets keep an eye out for Fed rate hikes

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The metal is still hovering near a two-month high, with a softer dollar tempering pressure from higher bond yields

Bengaluru — Gold prices edged down on Thursday, hovering near a two-month high, with a weaker dollar countering pressure from higher bond yields, as traders looked for clues on the Federal Reserve’s pace of interest rate hikes from its policy meeting next week.

Tensions are simmering between the West and Russia, with US President Joe Biden predicting Moscow would make a move into neighbouring Ukraine, while Russian officials have denied this. But the Kremlin has massed about 100,000 troops near Ukraine’s borders.

 

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