The Dollar Index (DXY) has corrected by 1.05% in the past five trading sessions falling below the 103 mark against a pack of six major currencies. Today, it was trading with a minor uptick at 102.74, up by 0.03 points or 0.03%.
Taking cues from the international prices, MCX April gold futures were trading flat at Rs 62,566 per 10 grams while the May Silver contracts were trading at Rs 71,382 per kg, higher by Rs 103 or 0.14%.
Gold prices edged higher on Wednesday, with spot gold at Comex trading up by 0.31% at $1939 per ounce in the morning session. A lower US dollar and declining US Treasury yields helped gold rise to its highest level in three weeks," Saumil Gandhi, Senior Analyst (Commodities), HDFC Securities, said.
Precious metals commentary 4/19/2023 kitco.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from kitco.com Daily Mail and Mail on Sunday newspapers.
Gold outlook: Fed commentary on rate hike to keep bullion on edge this week vervetimes.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from vervetimes.com Daily Mail and Mail on Sunday newspapers.