Take the pledge to vote

For a better tommorow#AajSawaroApnaKal
  • I agree to receive emails from News18

  • I promise to vote in this year's elections no matter what the odds are.
  • Please check above checkbox.

    SUBMIT

Thank you for
taking the pledge

Vote responsibly as each vote counts
and makes a diffrence

Disclaimer:

Issued in public interest by HDFC Life. HDFC Life Insurance Company Limited (Formerly HDFC Standard Life Insurance Company Limited) (“HDFC Life”). CIN: L65110MH2000PLC128245, IRDAI Reg. No. 101 . The name/letters "HDFC" in the name/logo of the company belongs to Housing Development Finance Corporation Limited ("HDFC Limited") and is used by HDFC Life under an agreement entered into with HDFC Limited. ARN EU/04/19/13618
CO-PRESENTED BY
LIVE TV DownloadNews18 App
News18 English
»
2-min read

Gold Slips Off 1-month Peak Amid Optimism on US-China Trade Concerns

US President Donald Trump said he thought recent discussions in Beijing would be successful and that he was optimistic about resolving the trade spat.

Reuters

Updated:May 15, 2019, 7:46 PM IST
facebookTwittergoogleskypewhatsapp
Loading...
Gold retreated slightly from a one-month high on Tuesday as equity markets enjoyed some respite after the United States and China adopted a more optimistic tone on their trade dispute.

Spot gold was down 0.2% at $1,297.73 per ounce as of 1023 GMT, after hitting $1,303.26 in the session, its highest since April 11.

US gold futures were down 0.3% at $1,298.40.

"The most recent noise around the trade tensions has been settling a little bit," said Julius Baer analyst Carsten Menke.

"We're hearing voices out of the U.S. that the talks are going to continue and (also) see a little bit of recovery in equities. So it's not all as negative as it had been in the past few days and that's the reason gold is consolidating."

On Monday, the metal rose 1.1% to mark its biggest one-day percentage rise since Feb. 19 after China announced it would impose higher tariffs on a range of U.S. goods, which followed Washington's decision last week to hike its own levies on $200 billion in Chinese imports.

However, both nations have since put on a slightly more optimistic stance, agreeing to keep negotiations going to end the prolonged trade war that has rattled financial markets.

US President Donald Trump said he thought recent discussions in Beijing would be successful and that he was optimistic about resolving the trade spat.

The optimistic comments brought some comfort to the equity markets, a day after their worst selloff this year.

Besides trade worries, gold investors were also keeping tabs on escalating tensions between the United States and Iran after Saudi Arabia said on Monday that two of its oil tankers were among those attacked off the coast of the United Arab Emirates.

"The Middle East escalation news brings us a step closer to a significant U.S. military reprisal. Fears that China will weaponise US Treasuries in trade war retaliation is scaring the daylights out of markets even if it is unlikely," said Stephen Innes, head of trading and market strategy at SPI Asset Management.



Rise in investor interest in bullion was also evident after holdings of SPDR Gold Trust, the world's largest gold-backed exchange-traded fund, rose 0.44% on Monday, its biggest one-day rise in nearly two months.

On the technical front, spot gold may test a resistance at $1,307 per ounce, a break above which could lead to a gain to $1,322, according to Reuters technical analyst Wang Tao.

Among other precious metals, silver was steady at $14.76 per ounce.

Platinum rose 0.6% to $858.10 an ounce, palladium climbed 0.6% to $1,330.36.
(Get detailed and live results of each and every seat in the Lok Sabha elections and state Assembly elections in Andhra Pradesh, Odisha, Arunachal Pradesh and Sikkim to know which candidate/party is leading or trailing and to know who has won and who has lost and by what margin. Our one-of-its-kind Election Analytics Centre lets you don a psephologist’s hat and turn into an election expert. Know interesting facts and trivia about the elections and see our informative graphics. Elections = News18)
Read full article
Loading...
Next Story
Next Story

Also Watch

facebookTwittergoogleskypewhatsapp
 
 
Most Active
Company Price Change %Gain
Yes Bank 146.05 3.43
SBI 359.15 1.07
Larsen 1,585.30 2.66
Tata Steel 508.40 5.01
Maruti Suzuki 7,068.00 -0.35
Company Price Change %Gain
Maruti Suzuki 7,067.00 -0.41
Yes Bank 146.05 3.36
TCS 2,051.00 0.07
Larsen 1,583.85 2.60
SpiceJet 143.90 1.66
Top Gainers
Company Price Change %Gain
Tata Steel 508.40 5.01
Grasim 950.05 4.40
NTPC 133.55 3.41
Yes Bank 146.05 3.43
Hindalco 201.40 2.86
Company Price Change %Gain
Tata Steel 507.75 5.02
NTPC 133.70 3.48
Yes Bank 146.05 3.36
Larsen 1,583.85 2.60
M&M 677.00 1.97
Top Losers
Company Price Change %Gain
Zee Entertain 370.10 -1.79
Bharti Airtel 348.00 -1.47
Asian Paints 1,369.35 -1.09
IndusInd Bank 1,630.70 -1.10
Bajaj Auto 3,046.00 -1.04
Company Price Change %Gain
Bharti Airtel 347.85 -1.54
Asian Paints 1,370.00 -1.12
IndusInd Bank 1,630.60 -1.17
Bajaj Auto 3,049.90 -0.89
Reliance 1,330.10 -0.50

Live TV

Loading...
Countdown To Elections Results
  • 01 d
  • 12 h
  • 38 m
  • 09 s
To Assembly Elections 2018 Results