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Market Impact: 0.38
Gold breaks $4,300 as Fed hike odds jump after PMI
Source: kitco.com
Commodities & Raw MaterialsInterest Rates & YieldsMonetary PolicyCurrency & FXEconomic Data
Spot gold and silver fell sharply after a stronger-than-expected U.S. PMI reading drove Treasury yields and the dollar higher. Traders increased the implied probability of another Federal Reserve rate hike in October, a bearish setup for non-yielding precious metals.
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