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TMI BlogGold declines Rs 1,000 to Rs 98,400/10 gm amid US-China trade deal optimismX X X X Extracts X X X X X X X X Extracts X X X X ..... Gold declines Rs 1,000 to Rs 98,400/10 gm amid US-China trade deal optimism X X X X Extracts X X X X X X X X Extracts X X X X ..... Gold of 99.5 per cent purity depreciated Rs 1,000 to Rs 97,900 per 10 grams against the previous close of Rs 98,900 per 10 grams. "Gold prices continued to decline as easing US-China trade tensions boosted investors' risk appetite, reducing demand for safe-haven assets like bullion while a stronger dollar added downward pressure on gold," Abans Financial Services' Chief Executive Officer Chinta ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... n Mehta said. On Friday, China announced it would exempt some US imports from its steep 125 per cent tariffs, though it denied that any formal trade talks were underway. Meanwhile, the US Federal Reserve officials signalled that they see no immediate need to adjust monetary policy, choosing instead to monitor the economic impact of the Trump administration's tariffs. This hawkish stance sugg ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ests that interest rate cuts may not materialise in the near term, further weighing on gold, which typically loses appeal as a non-yielding asset when interest rates stay elevated. Mehta further said, "Rising geopolitical tensions could limit gold's downside. As war risks escalate and new conflicts emerge, investors are likely to seek refuge in gold." "With tensions brewing among major powers, ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... and regional strains like the growing friction between India and Pakistan, demand for gold as a safe-haven asset is expected to rise, making it a preferred hedge against market volatility and uncertainty," he added. The local bullion markets were closed on Friday due to traders' protest against the terror attack in Jammu and Kashmir's Pahalgam. Additionally, silver prices also plunged Rs 1,40 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 0 to Rs 98,500 per kg on Monday. The white metal had settled at Rs 99,900 per kg in the previous session. On the global front, spot gold fell nearly 1 per cent to trade at USD 3,291.04 per ounce. "Gold traded weak amid the US opening tariff talks with multiple nations and growing expectations of a possible China-US trade agreement according to US President Donald Trump. Additionally, optimism ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... around a potential Russia-Ukraine peace deal further weighed on safe-haven demand for gold," Jateen Trivedi, VP Research Analyst of Commodity and Currency at LKP Securities, said. Spot silver in the Asian market hours traded 0.2 per cent lower at USD 33.05 per ounce. According to HDFC Securities' Senior Analyst of Commodities Saumil Gandhi said this week traders expect the spotlight will be mo ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... stly on tariff-related developments.
On the macroeconomic front, US data release such as manufacturing PMI data for April, GDP data, and, most importantly, US non-farm payrolls and unemployment rates will impact the bullion market, Gandhi said. PTI HG TRB X X X X Extracts X X X X X X X X Extracts X X X X
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