Gold Puts Up Strong Resistance

Gold Futures for February Settlement oscillated between $1819.10 and $1829 as the yellow metal put up brilliant resistance in the face of hardening bond yields triggered by interest rate hike expectations.

Gold Futures is currently trading at $1822.85, up 0.08 percent from the previous close of $1821.40.

The strong showing by Gold is amidst a global rout in equities, bracing for an immediate rate hike by the Fed. equities in Europe and Asia have fallen while Bond yields have surged globally.

The surge in the dollar denominated prices of the precious metal is also notwithstanding the Dollar Index rising by 0.07 percent overnight to 94.86.

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