Gold extends pullback in early Asian session after front-month Comex gold futures fell for a second straight session overnight. Investors have been unwinding part of last week's speculative surge, Sucden Financial's Research team says in commentary.
The retreat in precious metals' prices probably reflects profit-taking and reduced safe-haven flows rather than U.S. Treasury yields' dynamics, the team says. "Still-low Treasury yields and ongoing macro uncertainty continue to offer underlying support" for precious metals, the team adds. Spot gold is 0.2% lower at $4,089.65/oz. (az)
Source: Bloomberg
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