collected by :Irax John
Trump and Kim Jong Un’s Nuclear talk affects the price of gold Spot and futures prices rose for third successive session following war of words between Washington and Pyongyang.
However, some urged caution as gold futures remained at 2-month highs.
Earlier in the trading session, President Trump tweeted: “Military solutions are now fully in place, locked and loaded, should North Korea act unwisely.
Hopefully Kim Jong Un will find another path!”The tweet sparked another round of buying, as London and Dubai-based gold bullion traders reported a third day of brisk buying by international investors.
Hopefully Kim Jong Un will find another path!
In the same time frame MCX gold futures gained by around 4 percent in the same time frame.Gold prices have rallied in the recent past on account of weak dollar and persistent political uncertainty from the US.
Imposition of sanctions on Russia by the US and North Korea’s successful test of intercontinental ballistic missile fuelled the rally further.
Demand in China, a top consumer, fell seven percent to 292.7 tonnes in the same time frame.
So if one needs to be invested in gold Rs.28000 can be good entry points followed by 27600.
From a trade perspective, any move higher towards Rs.29000 should be a sell opportunity for target lower towards Rs.28000 mark.
Gold rate per gram: Check out current gold price per gram
Gold costs edged up on Tuesday as the dollar facilitated marginally, with financial specialists sitting tight for US swelling numbers not long from now for indications on the pace of fiscal fixing by the Federal Reserve