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Gold Prices Edge Higher After US Reiterates Deadline For Fresh US Tariffs
Gold prices in the international market edged higher today after the US provided its stand in relation to the deadline for a fresh round of US tariffs on Chinese goods. On Friday, Larry Kudlow, White House economic adviser said that the deadline of December 15 remains for the fresh round of US tariffs on Chinese goods to apply. The move supported safe-haven demand.
Spot gold traded higher by 0.1% at $1,460.40 per ounce as of 0158 GMT. In the previous session, prices fell 1%, which is the highest fall in a month. US gold futures traded flat at $1,464.90/ounce.
The earlier signing of a 'phase one' deal between the world's two largest economies was expected in November.
On the MCX, gold traded lower by -0.25% or Rs. 95 at Rs. 37604 per 10 gm. On similar lines, silver quoted lower at 43,472 per kg, down 0.17% or Rs. 73.
Last week, demand for bullion in India was moderate owing to lower wedding season purchase than usual.
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