A weaker dollar makes gold attractive for overseas buyers, while lower Treasury yields reduce the opportunity cost of holding zero-yield bullion
The price of gold varies for different regions based on parameters such as the excise duty, making charges and the state taxes.
(Reuters) - Gold prices clawed back from a three-month low on Wednesday as the dollar and Treasury yields weakened, ahead of key U.S. monthly inflation data that could influence the Federal Reserve's monetary policy stance and impact demand for bullion.
Spot gold was down 0.4% at $1,845.89 per ounce by 12:50 p.m. EDT (1650 GMT), after rising as much as 0.6% earlier in the session
The gold price varies for different regions based on certain parameters such as the excise duty, making charges and the state taxes
The MCX Silver July futures are currently trading below all its key moving averages; similarly, MCX Gold futures need to break above Rs 51,870 for further up move to emerge.
The gold price varies for different regions based on certain parameters such as the excise duty, making charges and the state taxes
The dollar was headed for a fifth winning week versus major peers as benchmark U.S. Treasury yields resumed climb having hit their highest since November 2018 in the previous session
The price of gold varies for different regions based on certain parameters such as the excise duty, making charges and the state taxes
Spot gold XAU= was up 0.9% at $1,898.06 per ounce, as of 0102 GMT, after rising 1% earlier in the session
The price of gold vary for different regions based on certain parameters such as the excise duty, making charges and the state taxes
Benchmark US 10-year Treasury yields firmed after backing off the key 3% mark in the previous session
The price of gold vary for different regions based on certain parameters such as the excise duty, making charges and the state taxes
Spot gold was flat $1,863.16 per ounce by 1144 GMT, after touching its lowest since Feb 16 of $1,849.90 earlier.
The price of gold vary for different regions based on certain parameters such as the excise duty, making charges and the state taxes
Investors keep a close eye on the U.S. central bank's Federal Open Market Committee's two-day meeting scheduled to begin on May 3.
Oil also declined as China's measures to curb Covid-19 threatened a further hit to fuel demand
The market is concerned that the Fed could be quite hawkish, pricing in a 50 basis point hike, and it could be 75 basis points in July, said Stephen Innes, managing partner at SPI Asset Management
The price of gold vary for different regions based on certain parameters such as the excise duty, making charges and the state taxes
However, some of them feel that the recent surge in gold prices could become a hindrance