President-elect Joe Biden is set to release proposals for a multitrillion-dollar stimulus package tomorrow, which could help to pave the way for a rise in inflation, against which gold is seen as a hedge.
CHICAGO: Gold steadied after the longest run of daily declines since November as investors weighed the impact of a stronger dollar and rise in Treasury yields against expectations for further massive stimulus.
A rebound in the US currency from the lowest level in almost three years, coupled with a surge in 10-year yields, has been weighing on non-interest bearing bullion.
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