Mumbai, January 17: India Gold February futures were trading flat on Friday echoing muted sentiment seen in the International spot prices. Globally, gold is on track to post its worst week in two months, as positive US economic data and optimism over an interim US-China trade deal boosted appetite for riskier assets.

According to a Moneycontrol report, on the MCX, Gold contracts for February were trading higher by Rs 30, or 0.08 percent, at Rs 39,716 per 10 gram in the early trading hours. Experts predict that volatility will remain in the gold prices for some time. Gold Rate Today: Price of Yellow Metal Remains Muted As US-China Trade Deal Fails to Soothe Investor Concerns.

Last week while the US-Iran tension was at its peak, the gold prices had touched a high of Rs 41,293. The optimism on the crucial trade deal and the cooling of the US-Iran tension have helped the prices to come down from its high.
After the US-China trade deal failed to soothe the investor concerns, all eyes are now on the Chinese economic data. China is expected to post that economic growth slowed to its weakest in nearly three decades in 2019.

(The above story first appeared on LatestLY on Jan 17, 2020 01:49 PM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website latestly.com).