Precious Metals Preview: Gold Wavering Around Six Month Lows

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 0.20% on the day. MCX Gold futures are currently trading at Rs 30890 per 10 grams, down 0.25% on the day. Equities were all over the place yesterday with the European markets sliding around 1.5% and the DOW showing a massive decline of 1.15%. 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.