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NEW YORK (AP) - Gold prices slipped Monday, pressured by an early selloff in crude oil and the dollar's rise against the euro.
However, the losses in gold were modest, thanks to easing bond yields. The 10-year Treasury note's yield slipped to 5.08 percent from 5.14 percent late Friday. "The lower yields I think have tended to help the market recover from the declines we had this morning," said James Steel, precious metals analyst at HSBC.
He added that trading volumes were fairly low in the precious metals markets, where participants are awaiting the Federal Reserve's decision Thursday on interest rates. Because the dollar and gold are rival safe-haven investments, any indication that U.S. rates may rise could dampen precious metal prices.
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