According to Angel Commodities, On Monday, spot gold prices ended lower by 0.28 percent to close at $1509.2 per ounce. Prices dipped after U.S. & China expressed their optimism over striking a deal this month to end the prolonged trade war.
Angel Commodities' report on Gold
On Monday, spot gold prices ended lower by 0.28 percent to close at $1509.2 per ounce. Prices dipped after U.S. & China expressed their optimism over striking a deal this month to end the prolonged trade war. The 16 month long trade spat had roiled the markets and boosted the appeal for the safe haven asset, Gold. However, situations have seemed to run around as both countries are trying to find a way out of the protracted tariff spat which has boosted the risk appetite amongst investors and pushed Gold prices lower.
Optimism over a possible trade deal between U.S. & China amid positive economic data from U.S. & China might boost the risk appetite amongst investors and dent the appeal for the safe haven asset. On the MCX, gold prices are expected to trade lower today; international markets are trading lower by 0.23 percent at $1507.6 per ounce.
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