Rise in equity markets cause gold prices to slip

The yellow metal saw a slight decrease in prices, however positive global cues resctricted the fall

: IJ News Service
11 May 2019 10:19 AM
Reference: 11761

Gold prices slipped in futures trade on Friday on weaker demand by jewellers at spot markets. A rise in equity market also weighed on the safe-haven metal. However, positive global cues supported the metal, restricting the metal's fall.

 

Gold prices edged higher in global markets, drawing support from increased trade tensions after US President Donald Trump's tariff increase on $200 billion worth of Chinese goods took effect, putting the bullion on track for a weekly gain, Reuters reported. Silver prices also declined on reduced order by coin makers and industrial units.

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