Gold price jumps on Monday; hovers around $1,400 mark

Gold prices extended the rally for the fifth consecutive session against the backdrop of a dovish shift in Fed policy bets that has weighed on both Treasury bond yields and the US Dollar.

Jun 24, 2019 07:06 IST India Infoline News Service

Gold
Prices of the yellow precious metal held steady above the key $1,400 psychological mark. Gold prices extended the rally for the fifth consecutive session against the backdrop of a dovish shift in Fed policy bets that has weighed on both Treasury bond yields and the US Dollar. 

In the international markets, gold prices hovered near a six-year high touched in the previous session.

The US Federal Bank in its two-day policy meeting ended on Wednesday left rates on hold, however, the policy makers said uncertainties about the economic outlook could force its hand.

Besides, investors are weighing the Middle East situation alongside a dovish shift from major central banks and the ongoing trade tensions between the US and China. 

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