Gold price outlook: Government debt has turned out to be a more attractive bet for investors of late
Gold tumbled to an eight-month low and posted its worst month since November 2016 as a stronger dollar and elevated US Treasury yields hammered non-yielding bullion’s appeal. US Treasury yields have risen more than 50 basis points so far this year, eroding gold’s status as an inflation hedge since that translates into higher opportunity costs to hold bullion.
MCX Gold prices have an immediate strong support around Rs 45200 level. As long as it sustains above this level we may see a bounce towards Rs 48000 level in coming weeks: Reuters