COMEX Gold In Tiny Range

Published on Mar 23, 2021 11:46

Gold is witnessing cautious moves after hitting two week high above $1750 per ounce in last week. The metal rose following a tepid undertone in the US Fed`s monetary policy statement but soaring yields on US treasuries capped upside for the metal. The US 10 year bond yields surged to a near 14 month high above 1.70%. The yield eased a bit yesterday and the US equities saw broadly supportive activity. Gold moved in a range following this. The metal trades at $1737 per ounce, down 0.20% on the day. Asian equities are trading in a mixed manner and the US dollar is firming up, consolidating just under 92 mark.