On Monday, spot gold declined by 0.35 percent to close at $1287.9 per ounce whereas MCX Gold prices declined by 0.66 percent to close at Rs.31526.0 per 10gms. Gold prices continue to decline as optimism over US-China trade deal and better than expected China’s economic data drove the investors towards riskier assets denting the demand for the yellow metal. Positive manufacturing data from China for the first time in four months improved the market sentiments. China’s factory activity rose to 50.5 in March 2019 compared to 49.4 in February 2019.
Outlook
Improving risk appetite amongst investors and appreciating Dollar might weigh on the Gold prices. On the MCX, gold prices are expected to trade lower today; international markets are trading lower by 0.17 percent at $1291.85 per ounce.
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