Gold on MCX settled down -0.59% at 32851 as investors looked to the safety of the dollar to stave off risks from the U.S.- China trade spat, as concerns mounted over a slowdown in global growth.
New round of trade talks between China and the United States started in Beijing with world’s two largest economies trying to hammer out a deal before a March 1 deadline, after which U.S. tariffs on $200 billion worth of Chinese imports are scheduled to increase to 25 percent from 10 percent.
Trading Ideas:
* Gold trading range for the day is 32651-33175.
* Gold fell as investors looked to the safety of the dollar to stave off risks from the U.S.- China trade spat, as concerns mounted over a slowdown in global growth.
* New round of trade talks between China and the US started in Beijing with world’s two largest economies trying to hammer out a deal before a March 1 deadline.
* Sino-U.S. trade tensions have rattled financial markets since last year and also underpinned the dollar’s safe-haven appeal.
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