GOLD UNDER PRESSURE AS US TREASURY YIELDS RISE, DOLLAR FIRMS

Gold and Silver ended with some weakness on Tuesday. Gold Apr delivery continued its losses and down by 0.53% at Rs. 46650 per 10 gms on Wednesday amid soaring US Treasury yields and a firmer dollar dented the bullion’s appeal. The recent fall in global rates and import duty cut in Budget has pushed gold rates in India to near multi-month lows.

MCX March Silver future was also trading lower by 0.18% at Rs. 69249 per kg.

All the base metals were trading negatively except Aluminum. At the same time, Natural Gas and Crude oil were trading positively. Natural Gas Feb future touched a high of Rs. 227.30 per mmBtu.