Gold, Silver Prices Fall Tracking Uptick In Dollar, US Bond Yields

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Spot gold was down 0.2 per cent at $1,893.07 per ounce by 8:38 am.

Gold, Silver Price Today: Gold futures for delivery in June fell as much as 0.53 per cent to hit an intraday low of Rs 48,325 per 10 grams on the Multi Commodity Exchange (MCX) as an uptick in the dollar and US Treasury yields weighed on the safe-haven metal. In spot market, fine gold with purity of 24 carats was sold at Rs 48,810 per 10 grams, 22 carat gold was retailed at Rs 48,615, 18 carat gold was sold at Rs 39,050 and 14 carat gold was priced at Rs 32,460 per 10 grams.

In international markets, Gold prices edged lower on Friday, as an uptick in the dollar and U.S. Treasury yields weighed on the safe-haven metal, while investors awaited crucial U.S. inflation data due later in the day to gauge inflationary pressure.

Spot gold was down 0.2 per cent at $1,893.07 per ounce by 8:38 am. Bullion has risen 0.7 per cent so far this week, and was on track for its fourth straight weekly gain.

US gold futures eased 0.1 per cent to $1,896.20.

The dollar index was up 0.1 per cent against rivals, while the U.S. 10-year Treasury yield rose to 1.617 per cent, aided by strong U.S. economic data.

Back home, silver futures for delivery in July declined nearly 1 per cent to hit an intraday low of Rs 71,090 per kilogram. In spot market, silver was retailed at Rs 70,650 per kilogram.



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