Gold sinks below $1,700/oz as dollar, bond yields climb; down 11.2% in 2021

Gold prices declined after a sharp sell-off yesterday weighed down by a spike in US Treasury yields, a stronger dollar and rising buoyancy around the US economy. The precious metal had given a breakdown trading near $1,680/oz level after multiple failed attempts to break past the $1,750 resistance in the last couple of weeks.

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