On Wednesday, most of the equity prices fell as a strong indication of investor’s diffidence towards the riskier assets. For many investors, this might trigger unpleasant memories of last year. People might want to keep in mind that the end of this month, equities will priced much higher and become vulnerable of any bad news. This sudden down from last few days is because of the trade war among US and China. US President Donald Trump wants to increase tariffs on $200 billion of Chinese goods from 10 percent to 25 percent. However the meeting between both officials is said to be held this Thursday. Even till today nothing has changed and no postponed has been reported. Many media outlets were reporting about the possibility that President Trump’s threatened new tariffs could take effect by later this week. The market will be back in position after the meeting between both officials.
However, Gold has gained momentum in the market due to fall in equities. As predicted earlier, Gold is expected to rise till the upcoming meeting between US and China. The safe haven metal is rising from past three days and is a good sign for investors.
MCX Gold is trading at Rs 31,849 per 10 grams and MCX Silver is trading at Rs 37,559 per kilo. (Data recorded at $pm IST)