Yellow Metal Loses Shine Ahead Of Trump, Xi Meet

Gold futures were trading lower during afternoon trade in the domestic market on Wednesday as investors and speculators exited their positions in the precious metal on fading safe-haven demand ahead of a meeting between the US President Donald Trump and Chinese President Xi Jinping later in the week.

Moreover, traders keenly awaited cues from the minutes of the Federal Reserve's March meeting expected to be released later in the day.

At the MCX, gold futures for April 2017 contract is trading at Rs 28815 per 10 grams, down by 0.16 per cent, after opening at Rs 28860, against a previous close of Rs 28862. It touched the intra-day low of Rs 28809.

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Suhani Verma

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