Updated: Thursday, January 7, 2021, 18:20 [IST]
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Spot gold was down 2.0% at $1,907 an ounce, while US gold futures was down almost 2.03 per cent.
“Higher (bond) yields have boosted the dollar and triggered a selloff in gold that accelerated with stops under $1,935-40,” said Tai Wong, head of base and precious metals derivatives trading at BMO.
Also, investors are betting on more fiscal stimulus measures in the US, which could support gold prices. Investors who are on the sidelines may want to buy on dips.
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