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Gold futures fall back to a nearly 9-month low

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Gold futures declined Wednesday, as gains in Treasury bond yields prompted prices to mark their lowest settlement in nearly nine months. The $1,700 level has been “defended by gold bulls,” but if 10-year Treasury yields break above 1.50%, gold could test the $1,685 level, said Edward Moya, senior market analyst at Oanda. April gold
GCJ21,
-0.93%

fell $17.80, or 1%, to settle at $1,715.80 an ounce, the lowest for a most-active contract since June 8, FactSet data show. Prices traded as low as $1,699.40 during the session.

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