Global gold prices up on sharp fall in US bond yields, trade uncertainties

Back home, however, prices of the yellow metal fell owing to a risk-on appetite on optimism of a rate cut by the US Fed as well as profit booking on the bullion counter.

Aug 16, 2019 07:08 IST India Infoline News Service

Gold
Gold prices rose in futures trade on Friday on the back of a sharp decline in US bond yields and uncertainties regarding the ongoing trade war.

In global markets, gold rose by over 2% this week. 

Gold prices are up for a third straight weekly gain globally. 

SPDR Gold Holdings stated that its holdings rose 0.9% to 844.29 tonnes on Wednesday.

Spot gold prices inched up by 0.2% per cent at $1,515.21 per ounce.

Back home, however, prices of the yellow metal fell owing to a risk-on appetite on optimism of a rate cut by the US Fed as well as profit booking on the bullion counter.

MCX Gold (4-Oct expiry) traded at Rs37,931/10 gms. 


MCX Silver (5-Sep expiry) also receded to Rs43,797/kg, a fall of Rs282. 

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