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Below the Quote on gold Commentary by Mr. Manav Modi, Senior Analyst, Commodity Research at Motilal Oswal Financial Services Ltd

Gold prices edged higher from a near four-week low reached in the previous session, as heightened concerns over the global trade war between the United States and its key trading partners lifted demand for safe-haven assets. A global trade war, sparked by U.S. President Donald Trump's broad tariffs, escalated as Trump threatened to increase duties on China and as the European Union proposed counter-tariffs. In the previous session panic set in the market as rumors emerged regarding a 90 days’ pause in Tariff war however, President Trump said he was not considering a pause on tariffs to facilitate negotiations with trading partners, but mentioned that he would engage in discussions with China, Japan and other countries regarding the duties. On data front, US non-farm payroll last week was reported better than expectations however, US unemployment increased by 0.1% at 4.2% for the second time this year. Looking at continuous job additions, market participants looked this as a strong sign for labour market supporting from lower levels. Dollar index recovered were well from recent lows of ~101.30 and currently hovering around 103 levels. Markets will be closely monitoring minutes from the U.S. Federal Reserve's latest policy meeting. Focus this week will be on RBI interest rate decision and US CPI and PPI data.

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