According to Angel Broking, On Monday, Spot gold prices ended lower by 0.90 percent to close at $1548.1 per ounce.
Angel Broking's report on Gold
On Monday, Spot gold prices ended lower by 0.90 percent to close at $1548.1 per ounce. Easing of tensions arising from the Middle East coupled with the upcoming signing of a preliminary U.S.-China deal boosted the risk appetite amongst investors in turn denting the demand for the safe haven asset, gold. Last week prices rose after Iran attacked U.S.-led forces in Iraq. The attack was in retaliation of the U.S. drone strike that killed an Iranian military commander. The U.S.-China interim trade deal is scheduled to be signed on 15th January 2020 in the White House which is the first step to end the prolonged trade and tariff war and improve the global economic prospects.
Upcoming preliminary agreement between U.S. & China might dent the demand for the safe haven asset, Gold. On the MCX, gold prices are expected to trade lower today; international markets are trading lower by 0.64 percent at 1540.75 per ounce.
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