According to Angel Commodities, on Tuesday, spot gold prices ended higher by 1.07 percent to close at $1542.4 per ounce.
Angel Commodities' report on Gold
On Tuesday, spot gold prices ended higher by 1.07 percent to close at $1542.4 per ounce. Weak U.S. economic data amid inversion in the yield curve reinfused the recession worries and boosted the appeal for the safe haven asset, gold. No concrete outcome of the U.S. & China trade tiff has further raised slowdown concerns. Markets will now wait for 1st September 2019 where U.S. when the first stage of U.S. tariffs on $300 billion worth of Chinese goods will come into effect. China has also decided to retaliate by imposing tariffs on $75 billion worth of U.S. products effective from the same day.
Escalating trade tension between the largest economies in the world might continue to boost the appeal for the safe haven asset, Gold. ON the MCX, gold prices are expected to trade higher today; international markets are trading lower by 0.41 percent to close at 1545.45 per ounce.
For all commodities report, click here
Disclaimer: The views and investment tips expressed by investment experts/broking houses/rating agencies on moneycontrol.com are their own, and not that of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.
Get access to India's fastest growing financial subscriptions service Moneycontrol Pro for as little as Rs 599 for first year. Use the code "GETPRO". Moneycontrol Pro offers you all the information you need for wealth creation including actionable investment ideas, independent research and insights & analysis For more information, check out the Moneycontrol website or mobile app.