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Gold steadies near 6-week high as firmer yields offset Omicron woes

Gold scaled a six-week high before it gave up gains to trade flat on Monday, as safe-haven buying fuelled by an Omicron-driven surge in Covid-19 infections countered pressure from higher US Treasury yields. Spot gold was little changed at $1 826.58 per ounce by 0313 GMT, after hitting it highest since Nov. 22 at $1 831.49 earlier in the session. US gold futures were down 0.1% to $1 826.70.

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