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The gold market will continue to be affected by the rising dollar


U.S. private investment bank Brown Brothers Harriman & Co. reported that the dollar's rally is likely to be difficult to stop, and U.S. 10-year Treasury yields have risen above 3%, which could push gold prices to retest last month's lows of 1,700 an ounce. around the dollar. Gold futures were last down $2.3 at $1,759.4 an ounce in electronic trading in New York. The report said that the U.S. dollar index hit a 20-year high of 109.24 last month. Although it fell once this month, it has now returned to about 109 points; The new high may open the way for the dollar index to challenge 120 points further. The report believes that the relatively strong outlook for the U.S. economy and expectations that the Federal Reserve will continue to raise interest rates are the main reasons for boosting the dollar.
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