Strong dollar, yields sap metals
The Hindu
The short-term outlook for Comex gold is slightly positive.
Precious metals have lost sheen in the first quarter of the calendar year 2021. Comex gold recorded the third straight month of loss. Strengthening U.S. dollar and hardening U.S. Treasury yields have played a key role in keeping the prices subdued. As a result, Comex gold closed 0.76% lower in March at $1,715.6 an ounce. The fall in Comex silver was sharper with the white metal losing 7.2% to settle at $24.53 an ounce. In the domestic market, MCX gold futures declined by 1.2% to close at ₹44,935 per 10 gm. MCX silver futures declined 7.23% to close at ₹63,814 per kg at the end of March.More Related News