Market move● Neutral for Indian equities
How rising US bond yields and dollar recovery is weighing on gold
The brief
- Gold faced renewed selling pressure after a US Fed rate hike
- Higher Treasury yields and a stronger dollar reduced gold’s appeal
- Gold price moves affect Indian gold buyers and jewellery companies
- Euro hits a 17-month low as French fiscal concerns weigh on the currency
- Stocks upbeat, dollar wobbles as Fed hike bets recede
- US dollar reaches 17-month high as global bond rout hits euro
- Dollar Hits 3-Month High on Prospect of Higher U.S. Rates
- Bears maintain grip on oil-importing Asian currencies as crude prices bite