Gold price in India today: Yellow metal rises to Rs 31,711 as investors rush to safety on trade war fears
Gold was, however, down 0.4 percent this week and on track for a second consecutive weekly loss. It touched $1,302.61, the lowest since January 2, on Thursday, pushed down by expectations that the US Federal Reserve will raise interest rates more aggressively than previously thought
Higher interest rates are negative for gold because they raise bond yields, reducing the attractiveness of non-yielding gold, and tend to boost the dollar, according to Reuters. Image source: Reuters