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Gold Hits Seven-Month Low as Yields and Rate-Hike Fears Bite

Gold Hits Seven-Month Low as Yields and Rate-Hike Fears Bite

International gold prices extended their slide on Wednesday (July 1) as rising U.S. Treasury yields and persistent Fed rate-hike expectations pushed spot gold to its lowest level since last November.

  • As of 18:30 Beijing time (06:30 ET) on July 1, spot gold was trading at $3,979.41/oz, down 0.7% on the day[CNBC].
  • On Tuesday (June 30), spot gold hit a seven-month low of $3,942.99/oz[CNBC].
  • U.S. gold futures for August delivery fell 1.1%
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