According to Angel Commodities, on Monday, Spot gold prices ended lower by 0.94 percent to close at $1327.7 per ounce. Prices declined as risk appetite amongst inventors boosted after U.S. President Trump decided not to impose tariffs on Mexico.
Angel Commodities' report on Gold
On Monday, Spot gold prices ended lower by 0.94 percent to close at $1327.7 per ounce. Prices declined as risk appetite amongst inventors boosted after U.S. President Trump decided not to impose tariffs on Mexico. Even the Dollar strengthened and the markets shifted towards riskier assets which weighed on the yellow metal prices. U.S. & Mexico struck a deal last week, side stepping a possible trade war and averting chances of an economic slowdown which dented the appeal for the safe haven asset. On the MCX, gold declined by 0.84 percent to trade at Rs.32660.0 per 10 grams.
We expect gold prices to trade lower after worries over a global slowdown eased a bit after US and Mexico struck a deal and averted the chances of a possible trade war. On the MCX, gold prices are expected to trade higher today, international markets are trading higher by 0.25 percent at $1332.65 per ounce.
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