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Metals Stocks: Gold prices bounce around as stronger dollar offsets benefit of sliding bond yields

Gold futures on Wednesday traded on either side of unchanged as a rally in government bonds across the globe pointed to increased appetite for assets perceived as havens, but gains for bullion were kept in check as the a measure of the dollar ticked higher.

April gold GCJ9, -0.07% on Comex was virtually unchanged at $1,315 an ounce, hovering near its loftiest close for a most-active contract since Feb. 26 at $1,322.60, according to FactSet data.

The gold-backed SPDR Gold Shares exchange-traded fund GLD, -0.50% was up 0.1% in premarket action.

Gold’s wobbly trade action on Wednesday come as the benchmark 10-year Treasury yield TMUBMUSD10Y, -1.09% was hovering around its lowest since 2017, touching 2.352% and a gauge of the dollar’s strength against a half-dozen currencies, the ICE U.S.

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