Gold gains ground as dollar retreats ahead of key inflation reading

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Gold futures edged higher early Monday, finding support as the U.S. dollar weakened and investors looked ahead to this week’s key consumer-price index reading for August.

Price action

Market drivers

Gold has struggled to gain ground since early August as Treasury yields pushed back to the upside and the U.S. dollar found strength. Higher bond yields raise the opportunity cost of holding nonyielding assets like gold, while a stronger dollar makes commodities priced in the unit more expensive to users of other…

Source
Las Vegas News Magazine

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