Torrid Moves In Equities Could Offer Some Solace To Gold

Gold slipped further as a rapid slide following the break under $ 1300 per ounce levels kept on weighing the sentiments. Dollar is still charging up and Gold is currently trading at $ 1275.80 per ounce, down 0.34% on the day. MCX Gold futures are currently trading at Rs 30954 per 10 grams, down marginally on the day. Equities are all over the place with the European markets sliding around 1.5% and the DOW futures showing a massive decline of 1.30%. Chinese stocks crashed nearly 4% to mark a two-year low as US President Donald Trumps fresh tariff threats against China raised worries of a full-blown trade war. The torrid moves in equities are expected to put a floor under Gold as the metal lingers near six month lows.