Gold Sees Lax Moves, Rising Equities Weigh

Gold Sees Lax Moves, Rising Equities Weigh

Dec 13, 2019 07:12 IST capital market

Gold is witnessing steady moves today amid rising equity markets across Asia. 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 eased from a one week high and currently trades flat at $1473.55 per ounce. MCX Gold futures are currently trading at Rs 37588 per 10 grams, up 0.12% 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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