Gold On MCX Settled Up 0.54% At 29732 Kicked Off The New Week

Gold on MCX settled up 0.54% at 29732 kicked off the new week with gains on Monday in quiet trade on account of Columbus Day in the US. Prices bounced after falling for a fourth week to a two-month low on Friday.

Following an upbeat reading of U.S. wage growth and unemployment that supported expectations for a U.S. interest rate hike in December, pushing the dollar and Treasury yields higher. Gold's resilience above its 200-dma at $1253 an ounce also provided some technical support.

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