Gold rate today: Bullion dips as traders move to riskier assets on improved sentiments

January 7, 2020

Singapore (Jan 7)  Bullion counters slipped on Tuesday as sentiment improved and traders moved towards riskier assets after the United States said it could renegotiate the nuclear deal with Iran.

US President Donald Trump is confident that he could still renegotiate the 2015 nuclear deal with Iran, despite the killing of Iran's senior military commander Qassem Soleimani, White House advisor Kellyanne Conway said on Monday.

These remarks came a day after Iran announced that it would retreat further from the 2015 nuclear pact following the killing of Soleimani.

Gold futures shed 0.52 per cent to Rs 40,262 per 10 gram, while silver skid 0.48 per cent to Rs 47,318 per kg.

Brokerage SMC Global said bullion counters may witness profit booking at higher levels after the recent rise. Gold can dip lower towards Rs 40,000 while taking resistance near Rs 40,550, while silver can test Rs 47,000 while taking resistance near Rs 47,600, it added.


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