Gold sees steady gains

Gold sees steady gains

Dec 13, 2019 12:12 IST capital market

Gold is witnessing steady gains today amid rising equity markets. COMEX Gold futures slipped yesterday as fading trade concerns weighed on the metal. The US President Donald Trump tweeted on Thursday that the United States is very close to a trade deal with China. This pushed up the US stock markets with the Nasdaq and the S&P 500 hitting record closing highs.

The COMEX Gold futures currently trade at $1476 per ounce, up 0.23% on the day. MCX Gold futures are currently trading at Rs 37669 per 10 grams, up 0.33% on the day. Local Gold buying saw some traction this week as spot prices fell to around two-month low. Traders also eyed an increase in goods and services tax (GST) rate soon.

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