According to Angel Commodities, On Thursday, spot gold prices fell 0.7 percent to close at $ 1222.3 per ounce as trade jitters eased after US - EU trade talks after the United States agreed to refrain from imposing tariffs on cars from the European Union.
Angel Commodities' report on Gold
On Thursday, spot gold prices fell 0.7 percent to close at $ 1222.3 per ounce as trade jitters eased after US - EU trade talks after the United States agreed to refrain from imposing tariffs on cars from the European Union. Rising investor interest in gold can be seen in the holdings of the largest gold - backed, exchange - traded fund, New York's SPDR Gold Trust GLD, which are up more than 1 percent to 25.803 million ounces since July 18. On the MCX, gold prices fell 0.4 percent to close at Rs. 29788 per 10 gms.
OutlookWe expect gold prices to trade lower today as optimism in trade talks between the US and EU will hurt safe haven demand. On the MCX, gold prices are expected to trade lower today; international markets are trading 0.2 percent higher at $ 1224.1 per ounce.
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Read MoreFirst Published on Jul 27, 2018 12:23 pm