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PRECIOUS-Gold retreats from near 5-month peak on firmer yields, equities


By Reuters Staff
3 Min Read
June 2 (Reuters) - Gold prices on Wednesday retreated from a near five-month high marked in the previous session, as an uptick in bond yields weighed on the safe-haven metal while strong U.S. economic data prompted the shift back into riskier assets.
FUNDAMENTALS
Spot gold was down 0.1% at $1,898.58 per ounce, as of 0053 GMT, after hitting its highest since Jan.8 at $1,916.40 on Tuesday.
U.S. gold futures eased 0.2% to $1,901.90 per ounce.
Data showed that U.S. manufacturing activity picked up in May as pent-up demand in a reopening economy boosted orders. But unfinished work piled up because of shortages of raw materials and labor. ....

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PRECIOUS-Gold slides over 2% as strong U.S. data bolsters Fed taper bets


U.S. service sector index at record high in May
ADP data suggests similar bounce in nonfarm payrolls -analyst (Updates prices)
June 3 (Reuters) - Gold slid as much as 2.3% on Thursday as better-than-expected U.S. employment and service sector data propelled the dollar higher and boosted expectations that the strong economic readings may reignite taper talk from the Federal Reserve.
Bullion’s retreat also spilled into other precious metals, with silver slipping as much as 4.3% and platinum shedding 3.7%.
Spot gold was down 1.9% at $1,871.91 per ounce by 1:43 p.m. EDT (1743 GMT), after falling to its lowest level since May 20 at $1,864.39. U.S. gold futures settled down 1.9% at $1,873.30. ....

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