By hindustantimes. With agency inputs. Topics gold price today gold prices. Get our Daily News Capsule Subscribe. Thank you for subscribing to our Daily News Capsule newsletter. Whatsapp Twitter Facebook Linkedin. Sign Up.
Edit Profile. The rebound in economic recovery has led to sharp buying in equity indices which resulted in the liquidation from Gold ETFs holdings.
Experts point out that the US Fed is the key factor to determine future gold price trend as Covid worries are side-lined. Gold prices traded under pressure after the US Fed announced to hike key interest rates by halting the forward march of the prices.
Due to a stronger-than-expected US jobs report, gold was down Rs in the morning and Rs on Friday evening. Furthermore, the precious metal was heavily sold as bond yields reversed and greenback valuations rose. As a result of Richard Clarida's hawkish remarks, gold prices are struggling.
Experts further point out that not only gold, but silver also experienced a fall after a stronger than expected US jobs report on Friday that fueled the bets that the Fed may start paring back its massive monetary stimulus soon.
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