On Monday, spot gold prices higher by 0.25 percent to close at $1470.8 per ounce. Uncertainties revolving around the prolonged trade spat weighed on the market sentiments and boosted the demand for the safe haven asset.
President Donald Trump reluctant to roll back the tariffs levied on the Chinese goods further raised tension around the prolonged trade war in turn denting the risk appetite amongst investors.
President Donald Trump and U.S. FED Chair Jerome Powell met on Monday to discuss the economy situation. Markets will also have a keen watch on the U.S. Federal Reserve’s minutes from their latest meeting for cues on their further stance.
On Monday, Spot Silver prices ended higher by 0.43 percent to close at $17.0 per ounce while prices on the MCX rose by 0.54 percent to close at Rs.44685 per kg.
Fading optimism over a possible trade deal between U.S. & China might boost the demand for Gold and push the prices higher.
On the MCX, gold prices are expected to trade higher today; international markets are trading lower by 0.12 percent at $1470.1 per ounce.
On Monday, WTI Crude prices dipped lower by 1.16 percent to close at $57.1 per barrel. Expectation of increase in the U.S. Crude inventory levels amid uncertainties around the U.S.-China trade spat pushed the prices lower.
The protracted trade war between the United States and China sapped the demand prospects for oil as U.S. President seems to be reluctant to roll back the tariffs. No major progress in the prolonged trade tension between the biggest oil consuming countries weighed on the demand prospects for Crude Prices and pushed the prices lower.
Moreover, reports showing chances of rising U.S. Crude inventory levels for the fourth consecutive week further pressurized the prices.
No concrete outcome of the protracted trade war might weigh on the market sentiments and push the prices lower.
On the MCX, oil prices are expected to trade lower today; international markets are trading lower by 0.25 percent at $57.0 per barrel.
On Monday, Industrial metals on the LME ended lower with Lead being the highest loser amongst the pack. Lead prices were pressurized after inventory levels in China surged reflecting the rise in usage of recycled output. Moreover, rising production of industrial metals in China amid weakening of demand prospect for industrial metals weighed on the prices.
Rising uncertainties between U.S. & China, the biggest consumers of industrial metals raised severe demand concerns for the metals and pushed the prices lower. Market sentiments were pressurized after U.S. President seemed to be reluctant for revoking the tariffs which signalled towards hint of tension persisting between both the nations.
On Monday, copper prices on the LME ended lower by 0.32 percent to close at $5830.0 per tonne. Lower expectation of a possible trade deal between U.S. & China amid rising production of refined copper in China weighed on the red metal prices.
No concrete outcome of the U.S.-China trade spat might weigh on the market sentiments and push the prices lower.
On the MCX, Copper prices are expected to trade lower today; international markets trading higher by 0.09 percent at $5822 per tonne.
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