Gold Down as US Dollar Rebounds

Posted By: Religare
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    Gold futures closed lower in the international market on Monday as the U.S. dollar spent much of the session rebounding from last week's sharp loss and gains in U.S. equities dulled investment demand for the precious metal.

    Gold Down as US Dollar Rebounds

    A steadying U.S. dollar and equity market and mostly upbeat economic data added pressure to gold futures for the session.

    Fears that central banks in Europe and the U.S., some of the largest buyers of government bonds, may be shifting from a dovish to a more hawkish posture, has jolted government-bond prices lower, delivering a sudden jolt higher to yields, which move inversely to prices.

    Higher yields tend to increase the opportunity cost of purchasing commodities that don't offer a yield to assets, like bonds, which are seeing yields pick up.

    Read more about: gold
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