Gold price rallies on geopolitical risks and Fed rate cut bets
Treasury yields and the dollar weakened after the PPI report.
US President Joe Biden on Tuesday plans to name a new federal monument covering nearly 1 million acres (405,000 hectares) near the iconic Grand Canyon in Arizona, a move that will likely restrict new mining activity in the uranium-rich area.
Biden’s climate adviser, Ali Zaidi, made the announcement during a briefing for reporters traveling aboard Air Force One.
(By Nandita Bose and Trevor Hunnicutt; Editing by Sonali Paul)
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