Gold On MCX Settled Down -0.79% At 32241 As Prices Retreated

Gold on MCX settled down -0.79% at 32241 as prices retreated from highs as equity markets enjoyed some respite after the United States and China adopted a more optimistic tone on their trade dispute.

China announced that it would impose higher tariffs on a range of U.S. goods, which followed Washington’s decision last week to hike its own levies on $200 billion in Chinese imports.

U.S. President Donald Trump said he is holding fire on taxing the remaining $325 billion of Chinese goods, and announced that he will meet with Chinese President Xi Jinping in June, reigniting hopes for an agreement to end the tariff tussle.

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