Gold Price Today: Rates Fall on US-China Trade Deal Hopes; Experts Highlight Key Levels for MCX Gold
- A trio of senior advisors to President Donald Trump held discussions with Chinese officials in London on June 9 to work towards resolving the ongoing trade conflict between the United States and China.
- This meeting followed a temporary pause in negotiations last month and coincided with stronger-than-expected US jobs data that reduced expectations for imminent Federal Reserve rate cuts.
- Gold prices fell nearly 2% over two sessions, trading around $3,320 per ounce and Dh369.75 per gram in Dubai, reflecting optimism about the trade talks and a stronger US dollar.
- Experts like Rahul Kalantri noted gold support at $3,280-$3,265 with resistance at $3,325-$3,340, while Aksha Kamboj said strong employment figures reduce the immediate need for rate cuts that usually support gold.
- Despite short-term declines, analysts expect gold prices to stabilize above $3,000 in 2025, suggesting patience may benefit investors during this cautious market phase.
12 Articles
12 Articles
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Gold price today: Rates fall on US-China trade deal hopes; experts highlight key levels for MCX Gold
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