Yellow metal shines as dollar, US Treasury yields weaken

Yellow metal shines as dollar, US Treasury yields weaken

22/06/2017 14:17

Gold futures were trading higher during afternoon trade in the domestic market on Thursday as investors and speculators extended their positions in the precious metal after rising safe-haven demand on the back of easing greenback and weakness in US Treasury yields.

The US Treasury yield curve flattened to almost 10-year lows on Wednesday as investors evaluated the impact of hawkish Federal Reserve policy on the economy even as inflation measures are deteriorating.

At the MCX, gold futures for August 2017 contract is trading at Rs 28680 per 10 grams, up by 0.36 per cent, after opening at Rs 28645, against a previous close of Rs 28577. It touched the intra-day high of Rs 28716 (at 14:06 hours).

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