Yellow metal drops marginally, silver flat

NEW DELHI, Aug 08 (The Economic Times): Gold prices edged lower on Monday after a solid US jobs report last week boosted the prospect of aggressive interest rate hikes by the Federal Reserve, lifting the dollar and treasury yields.
A solid US payrolls report pushed back against talk of recession and lifted the dollar index to its highest since July 28, making gold more expensive for other currency holders.
NSE -0.20 per cent were down, marginally lower by 0.10 per cent or Rs 52 at Rs 51,822 per 10 grams. However, silver futures were flat, marginally up merely by 0.01 per cent or Rs 4 at Rs 57,368 per kg.
Focus this week will be on US inflation data due on Wednesday that could offer more clues on the Fed rate hike path. Also, tensions between China and Taiwan will also be on the radar of investors.