Feb 17, 2017 02:32 PM IST | Source: Moneycontrol.com

Expect Gold prices to trade higher today: Angel Commodities

According to Angel Commodities, On the MCX, gold prices are expected to trade higher today, international markets are flat at $1238 per ounce.

Expect Gold prices to trade higher today: Angel Commodities

Angel Commodities report on Gold

On Thursday, spot gold prices rose by half a percent to close at $1238.8 per ounce as the dollar weakened after a 10-day winning streak and investors took the opportunity to buy bullion as a hedge against political uncertainty in the United States and Europe.

Concern over U.S. President Donald Trump's policies, as well as elections in the Netherlands, France and Germany this year, have fueled gold's rise to a peak of $1,244.67 on Feb. 8. On the MCX, gold prices rose by 0.94 percent to close at Rs.29416 per 10 gms.

Outlook

We expect gold prices to trade higher today as uncertainty continues to haunt investor’s flight towards safe haven, while weak dollar index would also be supportive for gold prices. On the MCX, gold prices are expected to trade higher today, international markets are flat at $1238 per ounce.

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