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Gold prices rose Thursday as the US dollar's easing made the Treasury yields hit its lowest in almost a decade.
The curve of the Treasury yield straightened to almost 10-year troughs as investors assessed how the Federal Reserve's hawkish tool shaped the economy but inflation measures are slumping. The greenback tumbled from a one-month peak versus a bunch of currencies.
US gold futures for August settlement traded at $1,253.10 an ounce, up 0.6%. Spot gold stood at $1,251.91 an ounce, up 0.5%. Earlier, it gained 0.3%, its biggest intraday percentage change since June 6.
Meanwhile, the holdings of SPDR Gold Trust climbed 0.4% to 853.98 tonnes, previously 853.68 tonnes.