Gold MCX Next Target 30810— 30930 — 31070 – Seller Saaf – Neal Bhai Reports
Gold prices edged higher as hopes of a swift Brexit deal boosted sterling and the euro against the dollar, making bullion cheaper for buyers in Britain and the euro zone. In the latest trade tensions, U.S. President Donald Trump said on Friday that he was ready to impose tariffs on virtually all Chinese imports, prompting a threat by China to retaliate.
Traders were bracing for a potential escalation in the Sino-U.S. row after President Donald Trump raised the stakes on Friday by saying he was ready to impose tariffs on virtually all Chinese imports to the United States.
Read More: Gold MCX Made Double Pattern Seller Be Alert, See on Chart – Neal Bhai Reports
Views that the U.S. Federal Reserve will raise in September has also made gold investors cautious. Michel Barnier, the European Union’s chief negotiator, said an agreement on Britain’s exit from the bloc was “realistic in six to eight weeks.”
Boston Federal Reserve Bank President Eric Rosengren has joined colleagues in beginning to lay the groundwork for rate hikes to potentially continue longer and to a higher level than currently expected as the outlook for the economy strengthens.
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