According to Angel Broking, Gold On Wednesday, Gold prices rose by 0.41 percent to close at $1462.9 per ounce.
Angel Broking's report on Gold
Gold On Wednesday, Gold prices rose by 0.41 percent to close at $1462.9 per ounce. After witnessing a constant downfall since last week prices found some support as U.S. President Donald Trump’s speech on their trade agreement with China shrunk the optimism amongst the investors in turn boosting the appeal for the safe haven asset. President Trump threatened that U.S. would further tariffs on China if they fail to strike a deal soon. The 16 month long trade spat had roiled the markets and boosted the appeal for the safe haven asset, Gold in 2019.
Outlook
Diminishing chances of a possible trade deal between U.S. & China might boost the demand for Gold and push the prices higher. On the MCX, gold prices are expected to trade higher today; international markets are trading higher by 0.02 percent at $1463.55 per ounce.
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