Gold Prices Fall Amid Rate Jitters; Copper Steady as China Stimulus Eyed 
The Indian government bonds traded modestly firmer on Wednesday as public sector banks (PSBs) continue buying sovereign bonds ahead of Britain's vote on European Union membership scheduled to begin early morning London Thursday, June 23.
Also, the Reserve Bank of India’s Governor Governor Raghuram told Saturday the RBI staff that he will return to academia after his term with the RBI ends on 4th September, denting investors’ sentiments.
The yield on the benchmark 10-year bonds, which moves inversely to its price fell half basis points to 7.491 percent, yield on super-long 30-year bonds dipped 1 basis point to 7.842 percent, yield on 12-year bonds tumbled 2-1/2 basis points to 7.817 percent and the short-term 3-year note yield down 1 basis points to 7.170 percent by 07:00 GMT.
According to Reuters, India’s state-run banks were the only net buyers of sovereign notes yesterday, with a purchase of net 16.71 billion rupees worth of bonds. These banks were the largest buyers on Jun. 20, after prices fell on Rajan’s announcement.
Rajan, a former chief economist of the International Monetary Fund who is on leave from University of Chicago, took charge as the twenty-third Governor of the RBI in September 2013 after the rupee sank to a record low against the U.S. dollar, as foreign investors took hefty sums off emerging markets such as India at the first indication of a reversal in easy U.S. monetary policy.
The government will shortly announce a successor to Rajan, Finance Minister Arun Jaitley said on Saturday. The focus will soon shift to who will succeed Rajan as the central bank’s next chief.
In addition, In US Fed Chair Yellen prepared testimony before the Senate Banking Committee, Yellen said since her last semi-annual testimony before Congress, the economy has made further progress toward the Fed's objective of maximum employment. And while inflation has continued to run below our 2 percent objective, the FOMC expects inflation to rise to that level over the medium-term.
Meanwhile, the Sensex fell 0.49 percent or 131.26 points to 26,681.52 and Nifty-50 futures trading down 0.41 percent or 34.60 points at 8,188 by 07:30 GMT.
