On Tuesday, Spot gold prices declined 0.29 percent to trade at $1284.9 per tonne as investors ship into riskier assets post optimism over US - China trade spat. Global stock rally as the markets anticipates that US - China may head towards a trade deal pointing towards increasing risk appetite amongst investors. However, Increasing ETF demand restricts the downtrend in the precious metal. On the MCX Gold prices traded higher by 0.29 percent to close at Rs.31741 .0 per 10gms.
Outlook
International markets trading lower by 0.1 percent at $ 1284.65 per ounce. We expect markets to trade lower as Optimism over trade talks between US and China led to a rally in the world stocks which over powered the rate hike pause by FED which was supporting the yellow metal prices. On the MCX, gold prices are expected to trade sideways.
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