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Gold Price Surges After Falling To 3-Month Low

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In the global markets on the back of improvement in US-China trade talk, the appeal of the yellow metal touted as the safe haven during political and economic crisis has reduced. And amid it, prices have fallen the most in the last 3 months on Friday. Nonetheless, due to still uncertainty on the issue in Monday's trade, gold has yet again scaled higher. Weak China data also lent support to the metal.

 

Spot gold was up 0.3 per cent at $1,462.46 per ounce by 0110 GMT, after touching a three-month low in the previous session.

Gold Price Surges After Falling To 3-Month Low

Over the weekend, the US President Donald Trump said that deal with Beijing is going on very nicely and on the contrary, Chinese finance minister who was in the position previously said, wider conflicts between the world's two largest economies will continue.

In India, as the prices have now declined there is seen some fresh buying in the metal. Also, the wedding season that now starts in India has also spurred demand.

On the MCX, gold of December contract traded higher by 0.1% at Rs. 37723 per 10 gm.
22k and 24K gold is priced at Rs. 37260 and Rs. 38260, with a change of just Rs. 10.

 

GoodReturns.in

Read more about: gold price dollar
Story first published: Monday, November 11, 2019, 9:50 [IST]
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