There is a rebound in many of the commodities because of the easing in the US dollar. The Treasury yields are also up and so gold prices trading at a three week high.

Inflation concerns are more apparent post the Central Bank meetings. The US talked about increasing tapering to USD 30 billion. The United Kingdom (UK) raised borrowing costs; the first central bank in the world to do that and European Central Bank (ECB) also reduced the pace of asset purchases from the coming quarter.

Also Read: Gold outlook for 2022: What brokerages say

The ease in the US dollar also supports other commodities. Copper has come off 10-week highs and most of the metals are positive because of the decline in the US dollars.

Watch the accompanying video of CNBC-TV18’s Manisha Gupta for more details.