Gold prices are expected to trade lower today: Angel Commodities

Angel Commodities' report on Gold

Last week, spot gold prices ended lower by 0.6 percent. Prices dipped after the trade tension between U.S. & China eased down as the trade negotiations were going very well which boosted the risk appetite amongst investors and dented the appeal for the safe haven asset, Gold. Prices rose earlier in the week after the situation between the two nations worsen ahead of the scheduled trade talks between U.S. & China (scheduled on 10th & 11th October 2019) as the U.S. government added some of China’s top start-ups in their trade blacklist over Beijing’s treatment of Uighur Muslims and other predominantly Muslim ethnic minorities. The gains were capped after the reports stated trade negotiation between U.S. & China which are held in Washington were going well which eased down the global tensions. U.S. decision to wave off the tariff hike which was scheduled on Oct. 15 2019 might further weigh on the Bullion metals.

Outlook

Easing of tension between U.S. & China might boost the risk appetite amongst investors and hamper the demand for the bullion metal. On the MCX, gold prices are expected to trade lower today; international markets are trading higher by 0.08 percent to close at 145.75 per ounce.