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Gold Locked In Tiny Range

Published on Mar 23, 2021 11:43

Gold saw 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 tiny range following this. The metal trades at $1737 per ounce, down 0.20% on the day. Asian markets are witnessing mixed movement though the US dollar is trading firm, consolidating just under 92 mark, keeping a tab on commodities.

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