MCX gold futures for April delivery were trading Rs 180 or 0.40 per cent lower at Rs 44,768 per 10 grams. Silver futures for May delivery were quoting at Rs 67,473 per kg, down Rs 527 or 0.78 per cent.
Read more about Japanese Yen near seven-month low, Asian shares fall as bond yields rise on Business Standard. The Japanese yen hit a seven-month low on the dollar on Thursday as hopes that vaccine distribution and more government stimulus will drive the US economy into a solid rebound
The dollar hit a seven-month high against the yen on Thursday as a more orderly rise in U.S. Treasury yields lent support ahead of a speech by Federal Reserve Chairman Jerome Powell that may determine the trend for global bond markets and currencies. The dollar also hit a 5-month high against the Swiss franc and .
Gold Futures Settle At 9-month Low As Dollar, Bond Yields Rise
WASHINGTON (dpa-AFX) - Gold prices fell on Thursday, pushing the most active gold futures contract to a nine-month low, as the dollar gained in strength and the yield on long-term U.S. Treasury Notes rose.
The Federal Reserve Chairman Jerome Powell commented at a Wall Street Journal Webinar this afternoon that the movements in the bond market was a concern, but then it has not made a significant impact on financial conditions. His comments lifted the dollar.
The dollar index, which moved in a tight band, albeit above the flat line, till around noon, rose sharply over the next couple of hours. The index rose to 91.66, gaining over 0.8%.