Gold Eases from $1240 as U.S. Dollar Rebounds

Gold settled higher on Tuesday as sliding crude oil prices and a dollar rebound prompted the bullion market to take a breather following its recent rally.

The energy market slumped further on Tuesday, with U.S. and Brent crude futures both falling more than 4 percent after the West’s energy watchdog cut its estimates for oil demand this year and next.

Anxieties about a slowing global economy also sent U.S. 30-year bond yields below 3 percent for the first time since May 2013, while benchmark 10-year yields fell to a 16-month low of 2.18 percent.

CNBC

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