Gold Dips Amid Stronger Dollar and Trade War Hopes

Gold prices fell due to a stronger US dollar amid potential easing of the US-China trade conflict. On the Multi Commodity Exchange, gold contracts saw a decline, reflecting weak global trends. Analysts say the shift in China-US trade dynamics and geopolitical tensions impacted gold's safe-haven demand.

Gold prices fell by Rs 839 to Rs 95,073 per 10 grams in futures trading. The decline came as the US dollar gained strength, igniting hopes of a resolution in the US-China trade stalemate.

Trading on the Multi Commodity Exchange saw June delivery contracts plummet by Rs 839 or 0.87 percent, with 18,007 lots exchanging hands. Meanwhile, the August contract dipped by Rs 760 or 0.79 percent.

Analysts attributed this price drop to stagnant global cues, highlighting shifts in US-China negotiations and geopolitical tensions affecting market sentiment. Investors remain attentive to US economic indicators and potential IMF policy shifts for future gold trends.

(With inputs from agencies.)