Quote on Daily gold commentary by Mr. Manav Modi, Senior Analyst, Commodity Research at Motilal Oswal Financial services Ltd
Below the Quote on Daily gold commentary by Mr. Manav Modi, Senior Analyst, Commodity Research at Motilal Oswal Financial services Ltd
Gold prices edged higher, helped by a weaker dollar and safe-haven flows triggered by fears of a global trade war, while investors awaited further clues to gauge the Federal Reserve's interest rate stance. President Trump last week exempted many imports from Mexico and some from Canada from those tariffs for a month, creating uncertainty in the markets and fanning worries about U.S. inflation and growth. Over the weekend, there were several updates regarding the Russia and Ukraine however, it was without any conclusion, keeping market participants on edge. On data front, Labor Department's employment report last week showed that nonfarm payrolls increased by 151,000 last week and revising last month data lower to 125,000. However, unemployment rate increased by 0.1% to 4.1% from expectations. Along with several important data points like CPI, PPI from US, move in Dollar index will also be important to watch, as it has fallen sharply over the past few weeks.
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