Gold Rate Today: Gold falls as dollar, bond yields go up. Check price of yellow metal in Delhi, Ahmedabad, and other Indian cities

economictimes.indiatimes.com:

yellow metal was trading down on the back of a stronger dollar index (DXY) and bond yields. The DXY was trading with a positive bias at 102.59 against a basket of six top currencies. Tracking cues from their foreign peers, both gold and silver futures ended with declines in the previous session.

While the former ended Rs 118 per 10 grams lower, the latter was down Rs 27 per kg. The October gold futures were trading with losses at Rs 58,800 per 10 grams on the MCX in the opening trade, down Rs 53 or 0.09%. Meanwhile, September Silver futures were trading at Rs 70,014, up Rs 33 or 0.05%.

Click to know more On the Comex, Gold futures were trading at $1,947 per troy ounce on Friday, down $1.90 or 0.10% while Silver futures were trading at $22.805, down $0.016 or 0.70%. «The US July CPI inflation report showed that US Core CPI posted the smallest back-to-back rise in two years. Core CPI inflation rose 0.20% m--o-m for a second month.

Headline CPI inflation also rose 0.20%. The US treasuries initially rallied as worse-than-expected jobless claims and Inflation data eased concerns about a Fed rate hike in September ( current probability 10%) however, they eventually fell on the notion that headline inflation will rise again in August due to high crude oil prices, though core may not be impacted much,» Praveen Singh – Associate Vice President, Fundamental Currencies and Commodities at Sharekhan said. He said that rise in yields and the firm dollar are bearish for the yellow metal while putting support at $1,900-$1,890 and resistance at $1,930/$1,950.