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Gold futures declined on Thursday as Treasury yields rose on data showing strength in U.S. private sector employment and the service sector which raised the likelihood of further interest-rate hikes by the Federal Reserve.
Price action
Market drivers
A “hot ADP report and impressive ISM services report” raised the odds the Fed might have to do deliver more rate hikes beyond the July FOMC meeting, said Edward Moya, senior market analyst at OANDA, in emailed commentary.
“The…
