GOLD RECLAIMS $4400-LEVEL

Gold advanced toward $4,450 an ounce on Friday, positioning the metal for a weekly increase after three successive weekly declines, as diminishing oil prices alleviated inflation anxieties and facilitated a decrease in bond yields. US 10-year Treasury yields receded from a multi-year peak of 5.04% toward 4.94%, diminishing the opportunity cost associated with holding non-yielding bullion. The dollar index remained proximate to 100, near seven-week highs, as markets persisted in evaluating the Fed’s most recent rate decision and the potential for additional tightening. Silver demonstrated stronger performance, increasing more than 2% toward $68, while gold futures gained 0.5% to $4,425. Domestically, MCX October gold futures advanced 0.8% to Rs.154,141 per 10 grams.