In global markets, gold prices fell below the important level of $1,400 an ounce after Donald Trump and Xi Jinping at the G20 summit agreed to resume US-China trade negotiations. Spot gold prices dropped as much as 1.8%, the biggest intraday fall in a year, to $1,384.06 an ounce, and was at $1,391.32 in Singapore. Gold prices today fell sharply in India, mirroring a big decline in global prices. On MCX, gold futures for August delivery fell below the 34,000 per 10 gram, when they declined 1.2% to 33,810. The October gold contracts on MCX also fell sharply but managed to hold on to 34,000 level. October gold futures contracts were down 1.2% at RS 34,026.
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