Gold price slips after clocking gains for two straight sessions

Singapore (Sept 24)  Gold prices slipped in the futures trade on Tuesday after clocking gains for two straight sessions, even as the demand for safe-haven assets remained amid rising geopolitical tensions.

MCX October Gold futures traded down 0.17% at Rs37,861/10g.

 Internationally, spot Gold touched $1,522/ounce.

The dollar index was firm after US manufacturing and services PMI numbers came in better than expected.

 However, manufacturing data from Germany and Japan were disappointing, adding to a gloomy economic outlook.

 Tensions in the Middle East remain elevated as some European countries came out in support of US' blame on Iran for the Saudi attacks.

IIFLnews