Gold On MCX Settled Up 0.46% At 31046 As The Dollar Retreated Slightly

Gold on MCX settled up 0.46% at 31046 as the dollar retreated slightly from close to a six-month high even as strong U.S. economic data sealed the case for the U.S. Federal Reserve to increase interest rates.

U.S. Treasury yields fell as traders piled back into lower-risk government debt after Italy's new prime minister vowed to enact economic policies that could balloon the nation's already-heavy debt load.

U.S. services sector activity accelerated in May, pointing to robust economic growth in the second quarter. Other data showed job openings rising to a record high in April, far outpacing hiring.

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