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Commodity Mid Session News

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(12 May 2025, 15:22)

Gold melts 3.60% as US-China trade deal weighs, MCX Gold futures crash around 4%

COMEX Gold futures plunged today to approach near $3200 per ounce as positive updates on US-China trade negotiations hurt the metal. Over the weekend, both capitals heralded substantive progress, with Beijing greenlighting formal talks and Washington lauding tangible headway. US is slated to unveil further specifics in an upcoming briefing. The India-Pakistan ceasefire held through Sunday despite sporadic exchanges of fire, pulling down Gold sharply. COMEX Gold futures are currently trading down 3.60% at $3220 per ounce. MCX Gold futures opened sharply lower around Rs 94300 per 10 grams and extended the losses to trade at Rs 92749 per 10 grams, down 3.90% on the day.
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