Gold Price Trades Flat, International Spot Gold Hits Low

Gold Price Today: India Gold MCX August Futures trade flat on Friday with a negative bias following muted trend seen in the international spot prices which slipped to a two-week low weighed down by a stronger dollar and an uptick in bond yields.

Gold Price Trades Flat

The dollar index jumped to a three-week high against its rivals, making gold more expensive for holders of other currencies, while the benchmark 10-year yield rose to 1.63%, said a Reuters report. US Dollar jumped after upbeat U.S. economic data lifted hopes over the possible tapering of stimulus measures by the US Federal Reserve, it said.

On the Multi-Commodity Exchange (MCX), August gold price contracts were trading lower by 0.04 percent at Rs 48,659 for 10 grams at 0930 hours. July silver futures were trading 0.08 percent lower at Rs 70,753 a kilogram.

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