Bengaluru — Gold prices edged up on Monday, recouping some losses after a steep sell-off in the previous session as US bond yields and the dollar softened, restoring some of the precious metal’s appeal.US gold futures were up 0.1% at $1,770.50.
Treasury yields rose sharply on Friday after data showed US retail sales unexpectedly rose in September which bolstered expectations for sooner-than-anticipated interest rate hikes from the Federal Reserve. Bank of England governor Andrew Bailey sent a fresh signal on Sunday that the British central bank is gearing up to raise interest rates as inflation risks mount.
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