Monday, 14 October 2019

Gold Prices Fell As Optimism Around The U.S.-China Trade Talks

Gold trading range for the day is 37303-38621.

Gold prices fell as optimism around the U.S.-China trade talks and the possibility of a Brexit deal diminished some safe-haven interest in bullion.

The talks between U.S. and Chinese negotiators fed hopes that the two sides could dial down the 15-month dispute and delay a U.S. tariff hike scheduled for next week.

Gold demand in was subdued as investors awaited outcome of crucial trade negotiations with US, while purchases in India during a key festival were lower-than-usual.

Gold imports in India plunged 68% year-on-year in September to their lowest in over three years as record domestic prices curbed retail buying.

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