Gold prices slipped in early trade in the domestic futures market on October 28 tracking trends of the international markets.
Gold prices eased in international markets after the dollar gained some strength against its peers as the hopes of US stimulus weakened after the US President said a deal is possible after the November election.
Trump on Tuesday said a coronavirus economic relief deal would likely come after the November 3 election, with the White House unable to bridge differences with fellow Republicans in the US Senate as well as congressional Democrats.
However, concerns over rising cases of coronavirus and lacklustre equity markets saved gold from witnessing a strong selloff.In the US and Europe, coronavirus cases have been rapidly rising and reports suggest that France is prepared for a fresh lockdown as new daily confirmed coronavirus cases hit the highest ever.Markets will look ahead to a televised address on Wednesday evening by […]
October 28, 2020 Published by StockMan