A strong US dollar and firm bond yields have put pressure on international gold rates
Gold prices remained weak today as firm US dollar and higher US bond yields dampened the safe haven appeal of gold. On MCX, gold futures were down for the fifth straight day to near the lowest of this month. They were down 0.25% to ₹51,350 per 10 gram. Silver futures fell 0.6% to ₹55,144 per kg. In global markets, spot gold was down 0.1% at $1,746.06 per ounce, after falling nearly 3% last week. Among other precious metals, spot silver gained 0.2% to $19.06.