According to Angel Commodities, on Monday, spot gold prices dipped lower by about 0.9 percent to close at $1485.5 per ounce.
Angel Commodities' report on Gold
On Monday, spot gold prices dipped lower by about 0.9 percent to close at $1485.5 per ounce. Spot gold prices dipped below the $1500 mark as the rising bond yield coupled with appreciating Dollar dented the appeal for the yellow metal. The U.S. Treasury yields jumped to a multiple weeks high after rising chances of easing U.S.-China trade tensions amid expectations of fiscal stimulus measures by global central banks. The investors moved towards riskier asset class which weighed on the Gold prices. Markets will keenly wait for the approach of U.S. & European central banks considering the rising worries of a global slowdown. Stimulus measures by various central banks around the globe might support the bullion metal prices.
Rising Bond yield coupled with appreciating U.S. Dollar might weigh on Gold prices. On the MCX, gold prices are expected to trade lower today; international markets are trading marginally lower by 0.02 percent to close at $1498.95 per ounce.
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