GOLD RATE TODAY: PRICES DECLINE ON TRADE DEAL HOPES, STABLE DOLLAR; WHAT SHOULD INVESTORS DO?

Gold rate today: Gold prices slipped in the domestic futures market Friday morning, tracking weak global cues and softer demand in the domestic spot market. MCX Gold June 5 contracts traded 0.24 per cent down at ₹95,940 per 10 grams around 9:10 AM. 

International gold prices declined after US President Donald Trump announced a trade deal with the UK. As concerns over a trade war fade and expectations of trade agreements with major economies, such as China, India, and Japan, rise, gold's safe-haven appeal is weakening.

China remains optimistic about securing a favourable trade deal with the US.

"China has full confidence in its ability to manage US trade issues, Vice Foreign Minister Hua Chunying said on Friday, a day before officials from both sides are set to meet in Switzerland to discuss the tariffs they have imposed on each other," reported Reuters.

Meanwhile, a stable dollar has also weighed on gold prices of late. Reuters reported that the US dollar looked set for a weekly gain on most major peers on Friday as a US-UK trade deal raised hopes of progress in looming US-China talks.

Diminishing hopes of an early rate cut by the US Federal Reserve are also supporting the dollar and putting pressure on gold.

The US Federal Reserve on May 7 said it is in no hurry to cut rates amid increased risk of inflation. 

(This is a developing story. Please check back for fresh updates.)

2025-05-09T03:53:13Z