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Gold recovered in the Indian market on August 9 after a steep fall in the previous trading session. International spot prices also bounced back but were trading at a multi-month low hurt by a rise in US bond yields and a stronger dollar.

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Oil steadies after hitting three-week low on pandemic restrictions

Oil prices rose on Tuesday, edging up from a three-week low in the previous session, but gains are likely to be limited on worries that rising COVID-19 cases and restrictions in China will dent fuel demand.

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Data released on Friday showed, US employers hired the most workers in nearly a741 year in July and continued to raise wages. The data boosted the dollar and benchmark US. 10- year treasury yields, hurting gold’s appeal as an inflation hedge Data released on Friday showed, US employers hired the most workers in nearly a year in July and continued to raise wages. The data boosted the dollar and benchmark US. 10- year treasury yields, hurting gold’s appeal as an inflation hedge.

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Oil slumps on China travel curbs, strong US dollar

Oil prices dropped 2% on Monday, extending last week’s steep losses on the back of a rising U.S. dollar and concerns that new pandemic curbs in Asia, especially China, may set back the global recovery in fuel demand.