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Gold edges lower after strong dollar, surging bonds reduce demand for the precious metal

  • Dwindling bond yields, Middle East tensions and uncertainty in the US-China trade deal is likely to support gold.
  • The dollar index (DXY) held firm against a basket of major currencies and was last seen trading at 98.12.

Spot Gold slipped 0.30 percent to $1275.59 on Thursday as gains in the US dollar and demand for safe haven government assets reduced investor appeal for the precious metal. In spite of a loss in momentum, analysts expect gold prices to surge in the medium term.