Gold prices rose on Thursday as a Democrat sweep of Georgia’s Senate runoffs boosted expectations of additional U.S. stimulus, although soaring Treasury yields held back bullion below a two-month high scaled in the previous session.
Spot gold advanced 0.4% to $1,925.90 per ounce by 0652 GMT. U.S. gold futures climbed 1% to $1,927.10. Prices had declined as much as 2.5% after scaling a high since Nov. 9 on Wednesday, as 10-year U.S. Treasury yields jumped above 1% for the first time since March.
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