Gold futures up on spot demand\, trade war fears

Gold futures up on spot demand, trade war fears

Press Trust of India  |  New Delhi 

Gold futures Monday rose by 0.45 per cent per 10 gram amid fresh fears of of trade war between and the US.

Marketmen attributed the rise in gold futures to a tariff battle that has rattled markets, boosting investment demand for the considered as a safe bet.

In a series of tweets, US Sunday threatened to raise tariffs on goods imported from

Trump's comments came at a time when Chinese delegation is due to resume talks in on Wednesday to resolve the tariff battle.

Besides, pick up in demand in the domestic spot market also supported the upside in gold prices.

At the Multi Commodity Exchange, gold for delivery in June rose by Rs 141, or 0.45 per cent, to Rs 31,588 per 10 gram in a business turnover of 10,888 lots.

The for delivery in far-month August also traded higher by Rs 154, or 0.49 per cent, at Rs 31,750 per 10 gram in a turnover of 4,847 lots.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Mon, May 06 2019. 15:10 IST