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Gold Upbeat In Domestic Market On Strong Global Cues And Healthy Demand
Gold in the domestic market has gained in the futures market on the back of strong global cues where the greenback has been lagging given the sentiments of improving US China trade stance and ahead of the US Federal Reserve minutes from the January meet due to come today.
A weak dollar provides fillip to the demand of gold, as its pricing become cheaper in other currencies.
US President Trump has also hinted that the US-China trade talks are progressing positively which will further boost up the demand for gold as safe-haven.
Gold has surged to a fresh 10-month high. Also, in the domestic market, spot demand has triggered the price of the yellow metal upwards.
Spot gold price on the MCX is Rs. 33,519 for 10 gm of gold in Ahmedabad. While gold futures contract with expiry on April 5, 2019 is Rs. 33,894.
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