Gold Update: Prices slip on rise in equities, low spot demand

Global prices, however, continued to rise due to escalation in the trade war between the US and China after the Trump administration called Beijing a currency manipulator.

Aug 06, 2019 07:08 IST India Infoline News Service

Domestic gold prices fell in futures trade on Tuesday owing to a rise in domestic equities. 

A decline in spot demand by jewellers and a rise in rupee against USD also contributed to the precious metal’s decline. 

Global prices, however, continued to rise due to escalation in the trade war between the US and China after the Trump administration called Beijing a currency manipulator.

SPDR Gold Trust, the world's largest gold-backed exchange-traded fund, said its holdings rose 0.53% to 835.16 tonnes on Monday from 830.76 tonnes on Friday, according to ET. 

MCX Spot Gold was down 0.6% at Rs37,121/10gms.

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