Spot gold was up 0.2% at $1,869.12 per ounce by 0642 GMT
Gold prices on Tuesday rose to their highest in more than three months as a weaker US dollar and growing inflationary pressure lifted bullion's appeal as an inflation hedge
Gold edged lower on Friday, as a firmer dollar made bullion more expensive for other currency holders, although a pullback in the U.S. Treasury yields limited losses for the safe-haven metal
Investors bet that rising inflation could erode the currency's value
The Indian rupee slumped 18 paise to 73.53 against the US dollar in opening trade on Tuesday tracking weak domestic equities and strong American currency.
This is according to a recent survey by the International Monetary Fund (IMF).
Decline in premium to help importers hedge near-term exposures
Gold prices ticked up on Wednesday, lifted by a retreat in the US dollar, although gains were kept in check after US Treasury Secretary Janet Yellen said interest rates may need to rise
Meanwhile, market sentiments are hurt on concern that rising Covid-19 cases in India and lockdown restriction in some states may hurt economic recovery.
This comes amid a positive trend in domestic equities.
This came on the back of positive domestic equities
The Reserve Bank turned net seller of the US dollar in February 2021, offloading $1.219 billion in the spot market, RBI data showed on Monday
This came on the back of weakness in the greenback and positive domestic equities.
Spot gold was up 0.1% at $1,778.22 per ounce by 0707 GMT
Having exposure to international funds and gold is a must for those who have foreign currency-denominated goals
The country's foreign exchange reserves rose by USD 1.193 billion to reach USD 582.406 billion in the week ended April 16, RBI data showed on Friday.
Gold heads for weekly rise on subdued US Treasury yields, dollar
Spot gold was little changed at $1,792.66 per ounce by 0707 GMT
U.S. gold futures gained 0.5% to $1,786.90 per ounce.
The rupee plunged by 52 paise to close at 74.87 (provisional) against the US dollar on Monday amid a lacklustre trend in the domestic equities as investors fretted over the prospects of lockdown