Gold nears nine-month low
Gold extended declines, approaching a nine-month low as the pace of US vaccine rollouts and plans for further stimulus boosted bond yields and the dollar. Bullion is heading for its first quarterly decline since 2018 amid a nascent global recovery that’s reduced the haven appeal of the metal. In recent weeks, its price has mostly treaded water, but faces renewed pressure from a resilient dollar and rising bond rates. A selloff in exchange-traded funds backed by gold is further eroding support. “We see increasing rates and a stronger dollar from Biden’s...