Gold prices moved lower in international markets on Monday as a stronger US dollar and rising Treasury yields weighed on demand for the precious metal. Comex gold was trading around $4,071.40 per ounce in the morning, down approximately 0.09% from the previous session.
In the domestic market, 24-carat gold was quoted around Rs.1,43,040 per 10 grams, while 22-carat gold stood near Rs.1,31,120 per 10 grams, according to the reported city-wise rates. MCX December gold futures had settled at Rs.1,42,552 per 10 grams during Sunday’s special Muhurat trading session.
Market participants are monitoring US employment data and expectations surrounding future Federal Reserve interest-rate decisions. A stronger dollar and higher bond yields can reduce the appeal of non-interest-bearing assets such as gold.
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