Gold Price Forecast & Analysis: Gold is edging higher in Tuesday’s trading so far, benefiting from falling Treasury yields and tepid risk tone. Markets appear to have turned risk-averse, re-assessing their bets on faster US economic recovery amid a potential hike in tax rates while covid restrictions in Europe also dampen the mood.
Gold prices (Yellow Metal) is struggling to extend its recovery momentum above $1700, as the US dollar clings onto the recent upside amid a cautious market mood. Gold, however, finds support from retreating US Treasury yields, as uncertainty around the passing of President Joe Biden’s $2 trillion infrastructure plan.
Gold and silver prices today struggled in Indian markets today after a sharp rise in the previous session. On MCX, June gold futures were flat ₹44977 per 10 gram while silver rates were down 0.35% at ₹63595 per kg. In the previous session, gold had risen 1% while silver 0.9%.