{"id":121896,"date":"2019-06-08T05:00:39","date_gmt":"2019-06-08T05:00:39","guid":{"rendered":"https:\/\/www.bnreport.com\/trade-war-effect-gold-may-touch-1390-level-as-outlook-brightens\/"},"modified":"2019-06-08T05:00:39","modified_gmt":"2019-06-08T05:00:39","slug":"trade-war-effect-gold-may-touch-1390-level-as-outlook-brightens","status":"publish","type":"post","link":"https:\/\/www.bnreport.com\/en\/trade-war-effect-gold-may-touch-1390-level-as-outlook-brightens\/","title":{"rendered":"Trade war effect: Gold may touch $1,390 level as outlook brightens"},"content":{"rendered":"

Escalating trade war between the US and China and shaky global growth outlook has been supporting gold<\/a> prices in the international markets. Economic indicators are signalling slowdown in the global economy after Donald Trump<\/a> administration imposed hefty tariffs on China. The World Bank<\/a> has also slashed its growth forecast for 2019 to 2.60 per cent.<\/p>\n

Looking at the shaky outlook, Federal Reserve<\/a> Chairman Jerome Powell<\/a> has hinted at the central bank cutting rates to boost growth.<\/p>\n

After Feds comments the Dollar Index witnessed profit booking, which boosted gold prices to a one-year peak, before settling at around 3.5-month high.<\/p>\n

The $1,350 level will now act as a major resistance for gold in the international markets, while the precious metal will find it tough to top Rs 32,950 in the domestic market.<\/p>\n

Looking at the global scenario, with escalating trade war, US-Iran geopolitical tensions, Brexit<\/a> and slower global growth prospects, gold may attempt to stage a possible breakout of long-term resistance at $1,350. We expect the commodity to remain positive and test the $1,374-1,390 zone in the coming days.<\/p>\n

Technical chart of gold<\/strong> <\/p>\n

(Source: investing.com)<\/figcaption><\/figure>\n


Technical view
<\/strong>Gold prices have hit the $1,348 level after holding its crucial support of $1,266 on a closing basis. The metal had corrected from a high of $1,356 made in February.<\/p>\n

At the MCX, prices have rebounded from the lows of Rs 31,232 to the highs of Rs 32,956.<\/p>\n

Looking at the weekly charts, there is a possibility of long-term breakout above the $1,350 level, which may extend till the $1,360-$1,389 zone in the coming sessions. Read More \u2013 Source<\/strong><\/a>
\n[contf]
\n[contfnew]
\n <\/p>\n

ET Markets<\/a><\/h5>\n

[contfnewc]
\n[contfnewc]<\/p>\n","protected":false},"excerpt":{"rendered":"

Escalating trade war between the US and China and shaky glob..<\/p>\n","protected":false},"author":1,"featured_media":121897,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[202],"tags":[],"class_list":["post-121896","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-finance"],"yoast_head":"\nTrade war effect: Gold may touch $1,390 level as outlook brightens - Business News Report<\/title>\n<meta name=\"description\" content=\"Escalating trade war between the US and China and shaky glob..\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.bnreport.com\/en\/trade-war-effect-gold-may-touch-1390-level-as-outlook-brightens\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Trade war effect: Gold may touch $1,390 level as outlook brightens - Business News Report\" \/>\n<meta property=\"og:description\" content=\"Escalating trade war between the US and China and shaky glob..\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.bnreport.com\/en\/trade-war-effect-gold-may-touch-1390-level-as-outlook-brightens\/\" \/>\n<meta property=\"og:site_name\" content=\"Business News Report\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/Business-NewsReport-328225811095934\/\" \/>\n<meta property=\"article:published_time\" content=\"2019-06-08T05:00:39+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.bnreport.com\/wp-content\/uploads\/2019\/06\/Master-3-1.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"841\" \/>\n\t<meta property=\"og:image:height\" content=\"555\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"infopal11\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@BNReport\" \/>\n<meta name=\"twitter:site\" content=\"@BNReport\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"infopal11\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.bnreport.com\\\/en\\\/trade-war-effect-gold-may-touch-1390-level-as-outlook-brightens\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.bnreport.com\\\/en\\\/trade-war-effect-gold-may-touch-1390-level-as-outlook-brightens\\\/\"},\"author\":{\"name\":\"infopal11\",\"@id\":\"https:\\\/\\\/www.bnreport.com\\\/en\\\/#\\\/schema\\\/person\\\/19d1c5a2dd7f60584a09de4a7805d68f\"},\"headline\":\"Trade war effect: Gold may touch $1,390 level as outlook brightens\",\"datePublished\":\"2019-06-08T05:00:39+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.bnreport.com\\\/en\\\/trade-war-effect-gold-may-touch-1390-level-as-outlook-brightens\\\/\"},\"wordCount\":270,\"publisher\":{\"@id\":\"https:\\\/\\\/www.bnreport.com\\\/en\\\/#organization\"},\"image\":{\"@id\":\"https:\\\/\\\/www.bnreport.com\\\/en\\\/trade-war-effect-gold-may-touch-1390-level-as-outlook-brightens\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/www.bnreport.com\\\/wp-content\\\/uploads\\\/2019\\\/06\\\/Master-3-1.jpg\",\"articleSection\":[\"Finance\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.bnreport.com\\\/en\\\/trade-war-effect-gold-may-touch-1390-level-as-outlook-brightens\\\/\",\"url\":\"https:\\\/\\\/www.bnreport.com\\\/en\\\/trade-war-effect-gold-may-touch-1390-level-as-outlook-brightens\\\/\",\"name\":\"Trade war effect: Gold may touch $1,390 level as outlook brightens - Business News Report\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.bnreport.com\\\/en\\\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\\\/\\\/www.bnreport.com\\\/en\\\/trade-war-effect-gold-may-touch-1390-level-as-outlook-brightens\\\/#primaryimage\"},\"image\":{\"@id\":\"https:\\\/\\\/www.bnreport.com\\\/en\\\/trade-war-effect-gold-may-touch-1390-level-as-outlook-brightens\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/www.bnreport.com\\\/wp-content\\\/uploads\\\/2019\\\/06\\\/Master-3-1.jpg\",\"datePublished\":\"2019-06-08T05:00:39+00:00\",\"description\":\"Escalating trade war between the US and China and shaky glob..\",\"breadcrumb\":{\"@id\":\"https:\\\/\\\/www.bnreport.com\\\/en\\\/trade-war-effect-gold-may-touch-1390-level-as-outlook-brightens\\\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\\\/\\\/www.bnreport.com\\\/en\\\/trade-war-effect-gold-may-touch-1390-level-as-outlook-brightens\\\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\\\/\\\/www.bnreport.com\\\/en\\\/trade-war-effect-gold-may-touch-1390-level-as-outlook-brightens\\\/#primaryimage\",\"url\":\"https:\\\/\\\/www.bnreport.com\\\/wp-content\\\/uploads\\\/2019\\\/06\\\/Master-3-1.jpg\",\"contentUrl\":\"https:\\\/\\\/www.bnreport.com\\\/wp-content\\\/uploads\\\/2019\\\/06\\\/Master-3-1.jpg\",\"width\":841,\"height\":555},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\\\/\\\/www.bnreport.com\\\/en\\\/trade-war-effect-gold-may-touch-1390-level-as-outlook-brightens\\\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"\u0627\u0644\u0631\u0626\u064a\u0633\u064a\u0629\",\"item\":\"https:\\\/\\\/www.bnreport.com\\\/en\\\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Trade war effect: Gold may touch $1,390 level as outlook brightens\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\\\/\\\/www.bnreport.com\\\/en\\\/#website\",\"url\":\"https:\\\/\\\/www.bnreport.com\\\/en\\\/\",\"name\":\"Business News Report\",\"description\":\"Latest News on the World of Politics & Business\",\"publisher\":{\"@id\":\"https:\\\/\\\/www.bnreport.com\\\/en\\\/#organization\"},\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\\\/\\\/www.bnreport.com\\\/en\\\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Organization\",\"@id\":\"https:\\\/\\\/www.bnreport.com\\\/en\\\/#organization\",\"name\":\"\u0628\u0632\u0646\u0633 \u0631\u064a\u0628\u0648\u0631\u062a \u0627\u0644\u0627\u062e\u0628\u0627\u0631\u064a\",\"url\":\"https:\\\/\\\/www.bnreport.com\\\/en\\\/\",\"logo\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\\\/\\\/www.bnreport.com\\\/en\\\/#\\\/schema\\\/logo\\\/image\\\/\",\"url\":\"https:\\\/\\\/www.bnreport.com\\\/wp-content\\\/uploads\\\/2020\\\/12\\\/LOGO2.png\",\"contentUrl\":\"https:\\\/\\\/www.bnreport.com\\\/wp-content\\\/uploads\\\/2020\\\/12\\\/LOGO2.png\",\"width\":200,\"height\":50,\"caption\":\"\u0628\u0632\u0646\u0633 \u0631\u064a\u0628\u0648\u0631\u062a \u0627\u0644\u0627\u062e\u0628\u0627\u0631\u064a\"},\"image\":{\"@id\":\"https:\\\/\\\/www.bnreport.com\\\/en\\\/#\\\/schema\\\/logo\\\/image\\\/\"},\"sameAs\":[\"https:\\\/\\\/www.facebook.com\\\/Business-NewsReport-328225811095934\\\/\",\"https:\\\/\\\/x.com\\\/BNReport\",\"https:\\\/\\\/www.instagram.com\\\/business.newsreport\"]},{\"@type\":\"Person\",\"@id\":\"https:\\\/\\\/www.bnreport.com\\\/en\\\/#\\\/schema\\\/person\\\/19d1c5a2dd7f60584a09de4a7805d68f\",\"name\":\"infopal11\",\"url\":\"https:\\\/\\\/www.bnreport.com\\\/en\\\/author\\\/infopal11\\\/\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Trade war effect: Gold may touch $1,390 level as outlook brightens - Business News Report","description":"Escalating trade war between the US and China and shaky glob..","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.bnreport.com\/en\/trade-war-effect-gold-may-touch-1390-level-as-outlook-brightens\/","og_locale":"en_US","og_type":"article","og_title":"Trade war effect: Gold may touch $1,390 level as outlook brightens - Business News Report","og_description":"Escalating trade war between the US and China and shaky glob..","og_url":"https:\/\/www.bnreport.com\/en\/trade-war-effect-gold-may-touch-1390-level-as-outlook-brightens\/","og_site_name":"Business News Report","article_publisher":"https:\/\/www.facebook.com\/Business-NewsReport-328225811095934\/","article_published_time":"2019-06-08T05:00:39+00:00","og_image":[{"width":841,"height":555,"url":"https:\/\/www.bnreport.com\/wp-content\/uploads\/2019\/06\/Master-3-1.jpg","type":"image\/jpeg"}],"author":"infopal11","twitter_card":"summary_large_image","twitter_creator":"@BNReport","twitter_site":"@BNReport","twitter_misc":{"Written by":"infopal11","Est. reading time":"1 minute"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.bnreport.com\/en\/trade-war-effect-gold-may-touch-1390-level-as-outlook-brightens\/#article","isPartOf":{"@id":"https:\/\/www.bnreport.com\/en\/trade-war-effect-gold-may-touch-1390-level-as-outlook-brightens\/"},"author":{"name":"infopal11","@id":"https:\/\/www.bnreport.com\/en\/#\/schema\/person\/19d1c5a2dd7f60584a09de4a7805d68f"},"headline":"Trade war effect: Gold may touch $1,390 level as outlook brightens","datePublished":"2019-06-08T05:00:39+00:00","mainEntityOfPage":{"@id":"https:\/\/www.bnreport.com\/en\/trade-war-effect-gold-may-touch-1390-level-as-outlook-brightens\/"},"wordCount":270,"publisher":{"@id":"https:\/\/www.bnreport.com\/en\/#organization"},"image":{"@id":"https:\/\/www.bnreport.com\/en\/trade-war-effect-gold-may-touch-1390-level-as-outlook-brightens\/#primaryimage"},"thumbnailUrl":"https:\/\/www.bnreport.com\/wp-content\/uploads\/2019\/06\/Master-3-1.jpg","articleSection":["Finance"],"inLanguage":"en-US"},{"@type":"WebPage","@id":"https:\/\/www.bnreport.com\/en\/trade-war-effect-gold-may-touch-1390-level-as-outlook-brightens\/","url":"https:\/\/www.bnreport.com\/en\/trade-war-effect-gold-may-touch-1390-level-as-outlook-brightens\/","name":"Trade war effect: Gold may touch $1,390 level as outlook brightens - Business News Report","isPartOf":{"@id":"https:\/\/www.bnreport.com\/en\/#website"},"primaryImageOfPage":{"@id":"https:\/\/www.bnreport.com\/en\/trade-war-effect-gold-may-touch-1390-level-as-outlook-brightens\/#primaryimage"},"image":{"@id":"https:\/\/www.bnreport.com\/en\/trade-war-effect-gold-may-touch-1390-level-as-outlook-brightens\/#primaryimage"},"thumbnailUrl":"https:\/\/www.bnreport.com\/wp-content\/uploads\/2019\/06\/Master-3-1.jpg","datePublished":"2019-06-08T05:00:39+00:00","description":"Escalating trade war between the US and China and shaky glob..","breadcrumb":{"@id":"https:\/\/www.bnreport.com\/en\/trade-war-effect-gold-may-touch-1390-level-as-outlook-brightens\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.bnreport.com\/en\/trade-war-effect-gold-may-touch-1390-level-as-outlook-brightens\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.bnreport.com\/en\/trade-war-effect-gold-may-touch-1390-level-as-outlook-brightens\/#primaryimage","url":"https:\/\/www.bnreport.com\/wp-content\/uploads\/2019\/06\/Master-3-1.jpg","contentUrl":"https:\/\/www.bnreport.com\/wp-content\/uploads\/2019\/06\/Master-3-1.jpg","width":841,"height":555},{"@type":"BreadcrumbList","@id":"https:\/\/www.bnreport.com\/en\/trade-war-effect-gold-may-touch-1390-level-as-outlook-brightens\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"\u0627\u0644\u0631\u0626\u064a\u0633\u064a\u0629","item":"https:\/\/www.bnreport.com\/en\/"},{"@type":"ListItem","position":2,"name":"Trade war effect: Gold may touch $1,390 level as outlook brightens"}]},{"@type":"WebSite","@id":"https:\/\/www.bnreport.com\/en\/#website","url":"https:\/\/www.bnreport.com\/en\/","name":"Business News Report","description":"Latest News on the World of Politics & Business","publisher":{"@id":"https:\/\/www.bnreport.com\/en\/#organization"},"potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/www.bnreport.com\/en\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Organization","@id":"https:\/\/www.bnreport.com\/en\/#organization","name":"\u0628\u0632\u0646\u0633 \u0631\u064a\u0628\u0648\u0631\u062a \u0627\u0644\u0627\u062e\u0628\u0627\u0631\u064a","url":"https:\/\/www.bnreport.com\/en\/","logo":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.bnreport.com\/en\/#\/schema\/logo\/image\/","url":"https:\/\/www.bnreport.com\/wp-content\/uploads\/2020\/12\/LOGO2.png","contentUrl":"https:\/\/www.bnreport.com\/wp-content\/uploads\/2020\/12\/LOGO2.png","width":200,"height":50,"caption":"\u0628\u0632\u0646\u0633 \u0631\u064a\u0628\u0648\u0631\u062a \u0627\u0644\u0627\u062e\u0628\u0627\u0631\u064a"},"image":{"@id":"https:\/\/www.bnreport.com\/en\/#\/schema\/logo\/image\/"},"sameAs":["https:\/\/www.facebook.com\/Business-NewsReport-328225811095934\/","https:\/\/x.com\/BNReport","https:\/\/www.instagram.com\/business.newsreport"]},{"@type":"Person","@id":"https:\/\/www.bnreport.com\/en\/#\/schema\/person\/19d1c5a2dd7f60584a09de4a7805d68f","name":"infopal11","url":"https:\/\/www.bnreport.com\/en\/author\/infopal11\/"}]}},"amp_enabled":true,"_links":{"self":[{"href":"https:\/\/www.bnreport.com\/en\/wp-json\/wp\/v2\/posts\/121896","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.bnreport.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.bnreport.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.bnreport.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.bnreport.com\/en\/wp-json\/wp\/v2\/comments?post=121896"}],"version-history":[{"count":0,"href":"https:\/\/www.bnreport.com\/en\/wp-json\/wp\/v2\/posts\/121896\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.bnreport.com\/en\/wp-json\/wp\/v2\/media\/121897"}],"wp:attachment":[{"href":"https:\/\/www.bnreport.com\/en\/wp-json\/wp\/v2\/media?parent=121896"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.bnreport.com\/en\/wp-json\/wp\/v2\/categories?post=121896"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.bnreport.com\/en\/wp-json\/wp\/v2\/tags?post=121896"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}