Gold Price Today: MCX Gold strikes record high on the weakness of dollar, uncertainty about trade war; What should investors do? | Einsmark news

Gold Price Today: MCX Gold reached a record high of £ 96,747 per 10 grams amid concerns about the war war and a weak dollar. Gold prices jumped to a new record height on Monday. (Pexels) Gold Price Today: MCX Gold hit a new record high of £ 96,747 per 10 grams in early transactions on Monday, April 21, amid continued concern about the economic impact of the ongoing trade war. The weakness of the dollar against its peers also supported gold prices. MCX Gold June 5 contract trades 1.36 percent higher at £ 96,552 per 10 grams at about 9:10 p.m. International Gold Prizes also hit a $ 3.384 record high during the session, as investors have continued to chase assets of safe haven over the growing concerns about the increasing trade war in the US China. The weakness of the dollar is also a key factor that supports gold prices. The dollar index hit a three -year low, making gold more attractive to investors. Gold is priced in dollars. If the US currency weakens, gold is cheaper in other currencies, which improve demand. In the previous session, MCX gold prices fell 0.44 percent to £ 95,239 per 10 grams on profit discussion. However, the trade war has charged a fresh wave of decline. US President Donald Trump announced a break at reciprocal rates, but his attitude against China was aggressive. This has raised the fear that a major trade war between the world’s two largest economies will lead to a long period of poor global economic growth. Meanwhile, White House economic adviser Kevin Hassett said on Friday that President Donald Trump and his team are still investigating whether they can remove federal reserve chairman Jerome Powell. “According to experts, Trump’s move can raise questions about SU Fed’s independence and the global sentiment of financial markets can hurry. Gold prices at record highs: What should investors do? Volatility in the dollar index and the US China Trading War. We suggest you stay away from fresh positions in gold and silver due to speculation about the negotiations of the US China trade, “said Manoj Kumar Jain of Prithvifinmart Commodity Research.