Gold garners good gains after recent losses

Gold soared today as the US dollar index saw muted moves and treasury yields eased. The yellow metal is up from near four-month lows seen earlier this week and is up around 3.70% at $4564 per ounce right now. Gold is down around 13% this month, giving up bulk of the 10% upmove in February. The US dollar index is down marginally around 99 mark. Volatile movement in crude oil can keep a tab on Gold. The latest tumble in prices could also trigger an uptick in Indian retail buying, thereby keeping downside limited for the metal. MCX Gold futures are currently trading at Rs 147627 per 10 grams, up 3.82% on the day. The counter has been holding in a tiny range and weakness in the Indian Rupee, which is quoting around 94 per US dollar mark is keeping it well supported.

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