On Monday, Spot Gold prices rose 0.39 percent to close at $1326.2 per tonne. Gold rose after Dollar weakened on hopes that US-China are nearing a trade deal after a long driven tariff dispute. The officials of US & China will resume talks this week. However, the markets expect a possible trade deal which led investors to shift away from the safety of the safe haven, Dollar. Investors will have a close watch on the minutes of the Federal Reserve's last policy meeting which are due on Wednesday. The minutes will give a clear picture of the rate hikes in 2019.
Outlook
Gold prices might trade higher over a weaker Dollar but markets await for some clarity over the US-China trade war. On the MCX, gold prices are expected to trade higher today, international markets are trading higher by 0.46 percent at $1328.15 per ounce.
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