On the MCX, gold which was trending lower for last couple of days on optimism around US-China deal gained as much as 0.57% or Rs. 223 to trade at Rs. 39670 per 10 gm.
This is in line with international trend which saw prices climb after US officials said Chinese tariffs will likely continue until after US presidential elections or signing of the Phase 2 deal.
Nonetheless, despite weakness few days back and now the firm nature in gold prices, gold will provide superb returns in the current year due to other factors such as loose monetary policy of central banks globally, disturbed geo-political climate, lap up of gold by central banks etc.
So, for getting into the metal, investors can use buy on dips strategy and for shorting their position in it, they can look for rallies.