Metals Stocks: Gold steadies as dollar’s advance pauses at 8-month high

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Gold futures snapped back with Tuesday gains after hitting their lowest level in about a week in the previous session, as the dollar stalled at multimonth highs.

The buck had stretched to a fresh eight-month high and Treasury yields gained on Tuesday when upbeat economic data backed market expectations for a U.S. interest-rate hike in 2016. A reading on consumer confidence is set for release in an otherwise light economic lineup Tuesday. Atlanta Fed President Dennis Lockhart is due to speak a day after his Chicago colleague predicted three interest-rate hikes between now and the end of 2017.

Back-and-forth action could continue this week as precious metals track the dollar.

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