On Monday, Spot gold prices declined 0.53 percent falling below the 1300 mark to close at $1286.4 per tonne. Gold prices declined after Dollar strengthened over higher U.S. Treasury yields. Prices were further pressurized as optimism about a possible trade deal between the US and China pushed the investors towards riskier assets. Rising US treasury yields and strong growth witnessed by US in the fourth quarter supported Dollar in turn making Gold expensive for other currency holders. On the MCX, Gold prices declined by 0.83 percent to close at Rs.32370.0 per 10 gms.
Outlook
Appreciating Dollar over stronger than expected US economic data and rising US Treasury yields might pressurize Gold. On the MCX, gold prices are expected to trade lower today; international markets are trading higher by 0.21 percent at $1290.2 per ounce.
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