For Quick Alerts
ALLOW NOTIFICATIONS  
For Daily Alerts

Gold Price Retreats Lower On Global Cues

|

Gold prices are on a declining spree ever since it hit the Rs. 40000 level mark per 10 gm in India in late September. This is after influence from the global rates which are also below the key levels of $1500 per ounce at $1455.55 per ounce.

Gold Price Retreats Lower On Global Cues

 

It is to be noted that festive and wedding season demand as well as the ongoing depreciation in the home currency has limited further losses in the gold price which now is priced for Rs. 38,160 per 10 gm (24K gold).

MCX markets are closed in the first half due to a holiday on account of Guru Nanak Singh Jayanti but will open later in the day at 5 pm.

In the global markets, gold due to a sharp rally in equities and positive progress in US-China trade talks witnessed its highest decline of 3.6% in over 3 years. But as the picture around US-China deal is still hazy with Chinese former Finance official saying that even as there is progress on the issue the conflict shall persist. And the US President also declined on a complete rollback on tariffs on Chinese goods.

Meanwhile, the chaos that arose in Hong Kong markets and still the Brexit deal may provide an upward momentum to the metal in the time to come.

Also, as the prices have corrected sharply from peak levels, there is expected to be a rise in demand of precious yellow metal ahead of the wedding season.

GoodReturns.in

Read more about: gold tariff brexit hong kong
Company Search
Get Instant News Updates
Enable
x
Notification Settings X
Time Settings
Done
Clear Notification X
Do you want to clear all the notifications from your inbox?
Settings X
We use cookies to ensure that we give you the best experience on our website. This includes cookies from third party social media websites and ad networks. Such third party cookies may track your use on Goodreturns sites for better rendering. Our partners use cookies to ensure we show you advertising that is relevant to you. If you continue without changing your settings, we'll assume that you are happy to receive all cookies on Goodreturns website. However, you can change your cookie settings at any time. Learn more