Gold holds above the $4,100 mark during the Asian session, and seems to have stalled the previous day’s modest pullback from an over two-week high. Crude oil prices climb to a fresh high since June 11 amid a further escalation of tensions between the US and Iran, fueling inflation fears and bolstering US Federal Reserve interest rate hike expectations. This lifts US Treasury bond yields to a multi-month high and is seen as a key factor acting as a headwind for the non-yielding bullion.
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