Gold Prices Edge Up On Short-Covering

Gold prices recovered slightly on Wednesday on short-covering after sliding to the lowest level this year in the previous session on surging U.S. bond yields and a stronger dollar.

Spot gold rose 0.3 percent to $1,293.89 per ounce at 0330 GMT, after shedding 1.7 percent and marking the lowest this year at $1,288.31 in the previous session.

This was also the lowest price level for the yellow metal since Dec. 28.

U.S. gold futures for June delivery were up 0.2 percent at $1,293.30 per ounce.

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Suhani Verma

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