Mumbai, May 14 -- Gold futures slipped below $3230 in Asian trade, weighed down by the calming winds of a US-China tariff truce that softened its safe-haven shine. The 90-day easing of trade tensions sparked optimism in risk assets, pulling gold off recent highs. Yet, the metal found a glimmer of support as US inflation cooled to 2.3%, fueling hopes of Fed rate cuts that typically favor non-yielding assets like gold. Also, in a bullish twist, the World Gold Council revealed gold ETFs attracted a massive 115 tons in April - the biggest monthly inflow in over three years - with China alone adding nearly 65 tons. Back home, MCX gold futures slipped Rs.22 to Rs.93625 per 10 grams, but strong hands may step in near Rs.93000.
Published by HT Dig...