CAPITALSTARS MCX COMMODITY GOLD NEWS UPDATE : :15 OCTOBER 2019
Precious Metals Preview: Gold Prices Recovered From Its Previous
Although Were Steady Below $1500
Mark, as new updates on the trade war and Brexit front, kept market
participants' hopes alive on increased uncertainties. Officials from Britain and
the EU will meet at a two-day make-or-break summit later this week, going forward
this will determine the fate of Brexit. After a positive outcome from the meet
between US and Chinese officials, the latter said that they want to discuss more
on the concerns before signing the Trump’s Phase 1 deal and also urged the US
to postpone the date of the additional tariff. US officials though commented that
they are positive on the trade deal if by December there is progress on talks
and if which is not the case then further tariffs on China will be imposed. The US
has shown intentions of imposing tariffs on Turkey as well, hence, amidst all
these updates, market participants will remain very cautious and that could
continue to support yellow metal prices on lower levels. Today, gold on MCX is
expected to quote in the range of ₹37,900 and ₹ 38,400
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