Gold futures edged higher on Thursday as investors tracked the ongoing trade negotiations between US President Donald Trump and Chinese President Xi Jinping.
Gold Prices on MCX
On the Multi Commodity Exchange (MCX), gold contracts for June delivery rose by Rs 334, or 0.21 per cent, to Rs 1,62,520 per 10 grams. The business turnover stood at 8,220 lots.
Market Sentiment
The modest uptick in gold prices reflects cautious optimism among traders regarding the outcome of the high-level talks. Any positive developments could reduce safe-haven demand for the yellow metal, while uncertainties may push prices higher.
Gold is often seen as a hedge against geopolitical tensions and economic instability. The Trump-Xi meeting is being closely watched for potential trade agreements that could impact global markets.
Analysts suggest that gold prices may remain volatile in the near term depending on the progress of the discussions. Investors are advised to monitor the situation closely.
