Spot gold was trading in a $4 range, unchanged at $2,317.03 per ounce. The ounce of U.S. gold futures was down 0.4% at $2,329.00.
Read MoreSpot gold was trading in a $4 range, unchanged at $2,317.03 per ounce. The ounce of U.S. gold futures was down 0.4% at $2,329.00.
Spot gold was down 0.1% at $2,320.19 per ounce, after closing the previous session at its lowest level since April 5.
Last week, officials, such as US Federal Reserve Chair Jerome Powell, retreated from offering any forecast for the timing of interest rate reductions, stating instead that monetary policy must remain tight for an extended period of time. Having non-yielding gold becomes less appealing when interest rates rise.
Comparison The yield on the 10-year U.S. Treasury increased slightly, closing at 4.6475%, which decreased investors' desire for non-yielding metal.
Spot gold was up 0.4% at $2,388.49 an ounce. American gold futures increased by 0.2% to $2,403.30 an ounce. For the week, gold has increased by 3%.
Loretta Mester, president of the Cleveland Federal Reserve Bank, stated that she anticipates price pressures to lessen further this year, enabling the Fed to lower borrowing costs
By the market close, the Sensex plummeted by 609.28 points or 0.82% to 73,730.16, while the Nifty fell by 150.30 points or 0.67% to 22,420.
At the time of writing, the broader market showed resilience, with the BSE MidCap index gaining 0.73% and the BSE SmallCap index rising by 0.89%.
U.S. West Texas Intermediate crude futures increased by 33 cents, or 0.39%, to $83.90 a barrel, while Brent crude futures gained 34 cents, or 0.38%, to $89.35 a barrel.
The Bank of Japan maintained its target range for short-term interest rates at 0-0.1% and forecasted inflation to remain at 2% for the following three years.
By the market close, the Sensex plummeted by 609.28 points or 0.82% to 73,730.16, while the Nifty fell by 150.30 points or 0.67% to 22,420.
At the time of writing, the broader market showed resilience, with the BSE MidCap index gaining 0.73% and the BSE SmallCap index rising by 0.89%.
U.S. West Texas Intermediate crude futures increased by 33 cents, or 0.39%, to $83.90 a barrel, while Brent crude futures gained 34 cents, or 0.38%, to $89.35 a barrel.
The Bank of Japan maintained its target range for short-term interest rates at 0-0.1% and forecasted inflation to remain at 2% for the following three years.
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