Gold Sees Some Bargain Buying

Published on Mar 03, 2021 14:35

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.