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Gold Price Edge Further Higher On US-China Trade Talks Optimism

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The appeal of gold has again outshined the dollar given the backdrop of trade optimism between the US and China. In a general case, weakening of the dollar, increases the safe haven appeal of the yellow precious metal. And gold becomes cheaper in other currencies.

 

Gold Price Edge Further Higher On US-China Trade Talks Optimism

In Friday's trade, gold gold prices jumped higher, but the gains were limited as the Fed minutes of the January meet hinted at a possible rate hike this year.

Spot gold inched 0.1 percent higher to $1,324.59 per ounce at 10 AM IST. This is the second weekly gain for the metal, which in Thursday's session reached a 10-month peak.

In the domestic market too, an uptick in demand and gold cues have weighed positively on the metal, with 24 K quoting at Rs. 33,830 per 10 gm of gold.

GoodReturns.in

Story first published: Friday, February 22, 2019, 13:18 [IST]
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