Market move▼ Bearish for Indian equities
Gold Muted as Traders Weigh Yields Against Concerns Driving Them
The brief
- Gold opened subdued in Asia as high bond yields offset reduced rate-hike expectations
- Gold-price weakness can weigh on Indian gold-loan lenders and jewellery companies
- Gold imports by nominated agencies may come under GST as Council weighs tax parity
- Gold firms as easing Fed hike bets offset dollar strength
- GST exemption for banks, nominated agencies for gold, silver imports may be withdrawn
- Entrenched premium leaves gold primed to climb despite surge in US bond yields
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