Gold resumed its rally yesterday as US dollar weakened and Treasury yields slipped. The benchmark contract for gold soared to as high as 1400.2 before settling at 1398, up +0.95%. The contract extended further gains in Asian session today. Apart from improved market sentiment, strength in gold was supported by concerns in widening US deficits. In the longer term, contrasting economic outlooks in advanced and emerging economies will continue to support the metal.
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Contrasing Developments in Advanced and Emerging Economies are Bullish for Gold
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