Dip in dollar, bonds, and oversold markets boost global equities
Gold's outperformance over equity has been even better in the international market, thanks largely to a big sell-off in equities in advanced economies such as the US and Western Europe
FPIs buy shares worth Rs 1,345 crore
The benchmark US 10-year yield was little changed at 3.945 per cent after earlier climbing to 4.015 per cent.
The benchmark 10-year Treasury yield hit its highest in over a decade on Monday and the dollar strengthened as investors were on edge before an expected hefty Fed interest rate hike
On Wall Street, all three major indexes ended with gains of at least 1%, scoring their first weekly increase in four weeks
The benchmark 10-year Indian government bond yield ended at 7.2318%. The yield rose two basis points on Thursday to end at 7.2146%
Gold snapped a six-session losing streak while Wall Street was little changed on hopes the Fed will turn dovish
Spot gold was flat around $1,771.29 per ounce by 0843 GMT, after hitting its highest since July 5 at $1,780.39 earlier in the session.
What led to such record outflows? "Rising global central banks' rates, rupee depreciation, expensive valuations and geopolitical risks," says BofA in a note.
Western markets fear recession and domestic business is uncertain ahead of festival season later this year
Yellen touted her "friend-shoring" concept as a way to reduce the vulnerabilities of a supply system badly strained over the past two years
Yellen, speaking at a meeting of G20 finance officials in Indonesia, said countries should target fiscal support measures to help those most in need
Fed Governor Christopher Waller and St. Louis Fed President James Bullard said on Thursday they would support another 75-basis-point rate increase, but forecast a downshift to a slower pace afterward
Gains from easing bond yields worldwide; better rate comes against indicative yield of 9-9.25%
Gold is currently ranging above $1,800 backed by Treasury yields and the spike in US dollar strength
US Treasury yields tumbled on market expectations that US consumer prices will come down close to the Federal Reserve's inflation target.
Spot gold rose 0.3% to $1,842.85 per ounce by 1411 GMT. U.S. gold futures inched 0.4% higher to $1,845.20
Weekly jobless claims fall 3,000 to 229,000; continuing claims rise 3,000 to 1.31 mn
US Treasury bonds have stormed world markets until recently. They have now eased up a bit with other commodities finding ground. Bear market meanwhile is still prowling