gold prices

World Gold Council's survey also showed that India's overall demand for gold, including investment and jewelry, increased to 136.6 tonnes in January-March of this year from 126.3 tonnes in the same period last year.

In the meantime, US gold futures fell 2.7% to $2,349.70. Geopolitical unrest and robust central bank purchases propelled gold to a record high of $2,431.29 on April 12.

S&P flash US services PMI and S&P flash US manufacturing PMI data for April will be announced on Tuesday, April 23. The same day will see the release of a report on new house sales for March.

Later on Monday, the yield on the 10-year Treasury increased to 4.68 percent from 4.61 percent. On Monday, the yield on the 2-year Treasury increased from 4.91 percent to 4.96 percent.

Following a suspected Israeli strike on its embassy compound in Syria on April 1, which resulted in the deaths of senior Revolutionary Guard leaders, Iran launched the attack.

Following Iran's attack on Israel, investors will also be keenly monitoring the growing geopolitical tensions in the Middle East. According to a military spokesman, Israel is ready to defend itself by doing "whatever is…

According to Goldman Sachs' predictions in a note regarding precious metals, the price of yellow metal is expected to increase to $2,700 per ounce this year.

By the conclusion of FY24, the price of MCX gold had increased by more than 12%, from about ₹59,400 per 10 grams at the beginning of the year to over ₹67,000 per 10 grams.

Non-yielding bullion hit a record high of $2,222.39 this past week as a result of Fed members' signals that they expect interest rates to drop by 0.75% by the end of 2024.

At 1306 GMT, spot gold increased by 0.5% to $2,175.21 an ounce, and silver increased by 0.5% to $24.78. U.S. gold futures increased to $2,177.00, up 0.8%.

US equities fell on Monday as traders awaited important inflation data that may provide hints about the US Federal Reserve's intentions to lower interest rates later in the year.

Gold prices rose to a fresh high of ₹65,298 per 10 grams on the MCX, marking a significant increase above ₹2,700 on the first Thursday of March last week

As of 11:27 a.m. ET (16:27 GMT), spot gold was up 0.5% at $2,027.79 per ounce. American gold futures increased by 0.8% to $2,039.40 an ounce.