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Gold down on resurgent US inflation
Now, the US interest rates may stay higher for longer. The ten-year US yields took a peak above 4.50% level as the yields surged 4.27% to settle at 4.545%, whereas the US Dollar Index surged 1.05% to close at 105.19. The Dollar Index is expected to extend its gains to 108 levels in the near term, which will be bearish for commodities in general.