Gold On MCX Settled Down -0.04% At 31504 Tracking Weakness From Comex Gold - Dollar Advisory | Best Commodity Tips Provider

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Tuesday 15 May 2018

Gold On MCX Settled Down -0.04% At 31504 Tracking Weakness From Comex Gold

Gold on MCX settled down -0.04% at 31504 tracking weakness from Comex Gold which edged lower but stayed in a stubborn trading range on a quiet day fell $2.50, unable to sustain any direction this year. 

While the main geopolitical drivers for gold this week are likely going to be the US-China trade talks which are set to start on Tuesday and NAFTA.

House Speaker Paul Ryan has set a NAFTA deadline for May 17. Additionally, the recent US withdrawal from the Iran nuclear deal is another geopolitical risk as the US is now at odds with Europe, China, and Russia. The recent decision can also increase tensions in the Middle-East.

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