Gold moved higher mid-afternoon on Wednesday, climbing for a third day as increasing international tensions prompt safe-haven buying after the Biden Administration permitted Ukraine to fire U.S.-made missiles into Russia and Moscow responded by lowering its policy threshold for the use of nuclear weapons.
Gold for December delivery was last seen up US$20.90 to US$2,651.90 per ounce.
The dollar rose even as the dollar and treasury yields climbed. The ICE dollar index was last seen up 0.55 points to 106.75. A stronger dollar is bearish for commodities priced in the currency.
Treasury yields also advanced. The U.S. two-year note was last seen paying 4.31%, up 1.9 basis points, while the yield on the 10-year note was up 1.1 points to 4.413%.
Source : MT Newswires
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