Gold Rises Near Four-Month High as Bond Yields, Dollar Decline
- Investors are shrugging off concern over Fed tapering
- Spot gold is on its way to a sixth straight daily gain
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Gold advanced, holding near the highest price in more than four months as bond yields gave up early gains and the dollar extended its slump.
The yield on 10-year Treasuries declined, and the dollar headed for its fifth loss in six sessions. Falling rates boosts demand for non-interest bearing bullion, while a soft dollar makes the precious metal for attractive for investors holding other currencies.