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* Gold set to post worst week since end-November, down 3%
* Bitcoin's continued rally will be headwind for gold- analyst
* Silver down 2.5% so far this week, its worst since mid-Jan
By Sumita Layek
Feb 19 (Reuters) - Gold prices fell to their lowest in more than seven months on Friday, on course for their worst week since the end of November, as rising U.S. Treasury yields eroded the non-yielding bullion's appeal.
U.S. gold futures
"U.S. bond yields have been rallying quite strongly in the last week, and there's growing momentum that they can lift further as U.S. and global growth recovers more quickly as vaccines roll out," said Lachlan Shaw, National Australia Bank's head of commodity research.
Benchmark U.S. Treasury yields
Gold's decline came despite an unexpected rise in U.S. jobless claims last week.
"The bond market is looking forward to where the U.S. economy might be as we move through the year as vaccines ease the weight of the pandemic on economic activity, and with plenty of stimulus and support from U.S. Federal Reserve," Shaw said.
The recent record surge in Bitcoin
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