Gold subdued as firmer U.S. dollar, yields dent appeal

​​​On Friday, Fed officials signalled they would likely stick with a 75-basis-point interest rate increase at their upcoming policy meeting, though a recent high inflation reading could still warrant larger increases than anticipated later in the year. Although gold is seen as an inflation hedge, higher interest rates and bond yields raise the opportunity cost of holding bullion, which yields no interest.

from Commodities-Markets-Economic Times
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