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Gold prices down after trade truce

ByVictoria

Gold prices have fallen almost 10% from a record high just above $3,500 per ounce in April as a de-escalation in U.S.-China trade tensions punctured momentum, but analysts are sticking with a bullish outlook due to strong underlying support for the metal.

Spot gold was trading around $3,180 an ounce on Friday, leaving prices on track for their worst week in six months.

“Gold prices are more likely to rise than to fall from this stage onwards as other factors like central bank demand and very strong investor demand from China are not going away anytime soon,” said Nitesh Shah, commodities strategist at WisdomTree.

Source – Reuters

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    New Delhi, Jan 29 (PTI) Silver prices on Wednesday marginally rose Rs 6 to Rs 91,057 per kilogram as participants increased their bets.

    Globally, silver was trading 0.14 per cent lower at USD 30.37 per ounce in New York.

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