Gold price (XAU/USD) fails to capitalize on Friday’s late rise back closer to the $2,750 area and opens with a modest bearish gap at the start of a new week. The US Dollar (USD) buying remains unabated in the wake of a fresh leg up in the US Treasury bond yields, bolstered by the growing acceptance that the Federal Reserve (Fed) will proceed with smaller rate cuts, and undermines the commodity. Apart from this, a generally positive risk tone is seen as another factor exerting pressure on the precious metal.
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