Gold prices rose in futures trade on Tuesday as the safe-haven metal climbed in the global markets. US President Donald Trump said on Sunday that he is going to increase tariffs on worth $200 billion of goods from 10% to 25%. This increased more downturn in global equity market and helped gold to gain in commodity market. These tensions increased the risk appetite of investors for the equities and helped gold to gain momentum in the market. Gold is use as a safe investment during global tensions. Spot gold rose 0.4 percent whereas US gold futures went up by 0.2 percent.The meeting between US and China is expected to schedule this Thursday. Gold is likely to gain tomorrow as well.

Meanwhile, global oil prices were mixed. With the increasing pressure through Sino-US trade dispute, which is expected to slow the global economy, while US sanctions on crude exporters Iran and Venezuela helped keep the market on edge. Currently MCX Gold is trading at Rs 31,554 per 10 grams and MCX Silver is trading at Rs 37,252 per kilo. (Data recorded at 3:30 pm IST)

Leave a Comment

Your email address will not be published. Required fields are marked *