Gold prices fell on Monday because the US greenback and international share markets firmed on the again of bettering financial outlook, with elevated bond yields placing additional stress on the metallic.
Spot gold fell 0.3% to $1,726.35 per ounce by 0651 GMT. US gold futures slipped 0.4% to $1,724.80 per ounce.
“Yields are the big threat to gold in the near term,” mentioned Michael McCarthy, chief market strategist at CMC Markets, including: “if the sell-off in bonds gathers momentum, gold could fall below $1,700 `very quickly.”
However, in India, gold charges elevated in all the massive cities on Monday. On MCX, the gold fee stood at Rs. 45,720 with a Rs 10 hike.
In Bengaluru, the speed of gold for the ten grams of 22-carat stood at Rs. 41,910 with Rs. 10 hike and 24-carat gold was at Rs. 45,720 with a Rs 10 hike.
Meanwhile, in Hyderabad, the gold fee stood at Rs 41,910 per ten gram of 22-carat, and 24-carat gold remained at Rs. 45,720 with a hike of Rs. 10 and Rs. 20 concurrently.
Similarly in Kerala, the gold charges stood at Rs 41,910 per 10 gram of twenty-two carats and the speed of 10 grams of 24 carats remained at Rs. 45,720 with a hike of Rs. 10 and Rs. 10.
In Visakhapatnam, the gold charges stood at Rs. 41,910 per ten grams of twenty-two carats with Rs. 10 hike and Rs. 45,720 per 10 grams of 24 carats with a Rs 10 hike.
