On Tuesday, spot gold prices declined by 0.48 percent to close at $1315.4 per tonne. U.S. dollar recovered after the bond yield rebounded as worries over a possible U.S. recession faded away. Downfall in the 10-year US Treasury yield coupled with falling global equities over chances of a possible U.S. recession and global growth concerns weighed on the U.S. Dollar in turn supporting the yellow metal prices. Markets will keep an eye on the latest round of U.S.-China trade talks in Beijing which is scheduled on Thursday i.e. tomorrow.
Outlook
Fading fears of a possible recession in U.S. led to recovery in the Dollar which might weigh on Gold. On the MCX, gold prices are expected to trade lower today; international markets are trading higher by 0.10 percent at $1322.75 per ounce.
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