Gold Sees Some Bargain Buying

March 03,2021

Gold edged up as eight month lows triggered some bargain buying. The metal currently trades flat at $1733 per ounce. Federal Reserve Governor Lael Brainard expressed concerns about last week's sharp rise in longer-term US Treasury yields. This put a floor under Gold. Gold had tumbled sharply last week as a slide under $1800 per ounce triggered hefty selling amid a sharp spurt in US treasury yields. Gold has been losing in last few days as easing global Covid-19 concerns kept the demand limited for the metal. With local spot prices approaching around Rs 45K, retail buying can see good revival ahead of wedding season.

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