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Gold Price Highly Volatile; Retreat Lower As Yields Weigh
Gold prices have been highly volatile off late with gains on one day and decline the other day. In today's session, gold price in the international market edged lower as higher yield weighed. Losses however remained capped due to the weaker dollar, which now trades again at a 3-year low.
In an address to the Representatives Financial Services Committee, added that inflation situation should not be worried about and the US economy will be brought to track.
In India, gold prices on the MCX retreated lower in previous session by 0.5 percent to Rs. 46570 per 10 gm. While silver rose to end close to Rs. 70000 per kg.
Also the support for the precious yellow metal as central banks world over do not hint at cutting back on money printing any time soon as well as raise interest rate.
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