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Gold firms below recent highs as rate-hike bets weigh

Gold prices edged higher on Monday, supported by a slight pullback in the U.S. dollar and Treasury yields, although bullion’s outlook remained vulnerable to aggressive interest rate hikes by major central banks. Spot gold was up 0.2% at $1,854.83 per ounce, as of 0554 GMT, while U.S. gold futures rose 0.4% to $1,857.60. Gold was still trading below last week’s near one-month highs with prices dropping about 1% on Friday after data showed U.S. employers hired more workers than expected in May.

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