Gold has made double bottom around 44,150 and bounced back sharply
In New Delhi, the price of 22-carat gold is at Rs 44,800 per 10 gm, while in Chennai it fell to Rs 42,970
Non-yielding bullion is highly sensitive to higher rates, as they increase the opportunity cost of holding gold and boost dollar and bond yields.
Spot gold was down 0.4% to $1,737.09 per ounce by 0946 GMT. US gold futures slipped 0.3% to $1,737.70 per ounce
In New Delhi, the price of 22-carat gold is at Rs 44,550 per 10 gm, while in Chennai it fell to Rs 42,570
Gold prices rose on Tuesday to their highest level in more than a week as a weaker dollar and pullback in US bond yields lifted demand for the safe-haven metal
In New Delhi, the price of 22-carat gold is at Rs 44,410 per 10 gm, while in Chennai it fell to Rs 42,580
Spot gold was down 0.1% to $1,726.36 per ounce by 0733 GMT. Gold futures were flat at $11,762.40 per ounce
Gold loans had boomed over the past year as small businesses tried to revive themselves from lockdowns by pledging family jewelry that's a staple of almost all Indian households
Higher imports by the world's second-biggest bullion consumer could support benchmark gold prices, which have corrected nearly 17% from an all-time high of $2,072 in August 2020
In New Delhi, the price of 22-carat gold is at Rs 43,800 per 10 gm, while in Chennai it fell to Rs 42,380
India's gold imports in March surged 471% from a year earlier to a record 160 tonnes, a government source told Reuters on Thursday
Gold bounced back from a three-week low hit in the previous session, as the US dollar and Treasury yields eased, while President Biden's $2 trillion-plus jobs plan further supported the metal's appeal
In New Delhi, the price of 22-carat gold is at Rs 43,250 per 10 gm, while in Chennai it fell to Rs 41,740
Gold prices fell to their lowest in more than three weeks as elevated US Treasury yields and a rising dollar kept the metal on track for its biggest quarterly drop in over four years
The dollar index jumped to a more than four-month high, making greenback-denominated gold more expensive for holders of other currencies.
Gold prices slipped on Tuesday, around a more than two-week low hit in the previous session, pressured by a stronger US dollar and higher Treasury yields on optimism around a quick economic recovery
The dollar index held firm near four-month highs against its rivals, making gold more expensive for holders of other currencies
In New Delhi, the gold price of 22-carat gold is at Rs 44,150 per 10 gm, while in Chennai it fell to Rs 42,350
Gold prices rose on Thursday as surging Covid-19 cases across Europe fuelled economic growth concerns, although a strong US dollar checked gains in bullion