Thursday, 10 May 2018

Gold On MCX Settled Up 0.32% At 31309 On Rupee Weakness While Comex Gold Prices Settled

Gold on MCX settled up 0.32% at 31309 on rupee weakness while Comex Gold prices settled with a modest loss Wednesday for a third-straight session shed 0.1%, to settle at $1,313 an ounce failing to find support from a pause in the dollar's rise to multi-month highs. 

The uptick in U.S. bond yields kept a lid on demand for the precious metal but losses were limited by weakness in the dollar.

The return of a 3% yield on the 10-year treasury and a rise in 2-year bond yields to a nearly 10-year high following President Donald Trump’s decision to abandon the Iran nuclear deal.

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