There was an announcement by U.S. President Donald Trump on delay to an increase in tariffs on Chinese goods in U.S.A. The stock market showed a slight change both in positive and negative aspects. While some companies showed a rise in their stocks, many showed a decline in their prices. Gold also showed a rise on Monday as the Dollar fell against Yuan but it showed a decline again on Tuesday. Gold on MCX is trading at Rs 33360 per 10 grams. High recorded at Rs 33598 whereas Silver is trading at Rs 40083 per kg. High recorded at Rs 40360.
With the news that Trump might not raise tariffs on $200 billion of Chinese imports to 25 percent from 10 percent Yuan strengthen 0.6% against Dollar.
A strong Yuan made the gold cheaper for world’s leading gold consumer, China on Monday but pushing back downwards on Tuesday.
Gold that started moving into the European and New York trading market, came under pressure from the stock market. The prices started to fall today. These fluctuations may cause a dilemma for investors and cause problems in the future predictions. It may rise in some points including Government interventions, major announcements or uncertainties but overall this metal will decline as an average of whole day prices. This decline will be noticed this whole quarter.