India Markets closed

Gold prices slips amid trade deal hopes, eyes worst month in 3 years

On Friday, gold prices slipped as hopes for a US-China trade deal supported demand for riskier assets and the dollar, weighing on the safe-haven metal. Gold was set for its worst month in three years.

According to Reuters, Spot gold fell 0.1 per cent to $1,456.30 per ounce by 0116 GMT. Prices are down almost 4 per cent this month, on track for their biggest monthly decline since November 2016. US gold futures rose 0.1 per cent to $1,462.30. Palladium was little changed at $1,840.67 per ounce, after touching an all-time peak of $1,844.50 on a supply deficit. The autocatalyst metal was headed for its fourth-consecutive month of gains.

Gold on Thursday went down marginally by Rs 3 to Rs 38,535 per 10 gram in the national capital on absence of demand. Silver prices also declined by Rs 91 to Rs 45,293 per kg from Wednesday's close of Rs 45,384 per kg.In the global market, gold and silver were trading with marginal gains at USD 1,457 per ounce and USD 17 an ounce, respectively.