Moneycontrol
Feb 16, 2017 12:29 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 trading higher by 0.2 percent at $1234.4 per ounce.



Angel Commodities' report on Gold


On Wednesday, spot gold prices rose by 0.35 percent to close at $1232.6 per ounce as the dollar came off its highs on Wednesday, shrugging off earlier pressure from stronger-than-forecast U.S. inflation and retail sales that added to expectations for near-term U.S. interest rate rises.


Outlook


We expect gold prices to trade higher given the weakness in the dollar although the economic indicators from US are clearly showing optimism, while the rate hike or not uncertainty will keep gold prices volatile in the near term. On the MCX, gold prices are expected to trade higher today, international markets are trading higher by 0.2 percent at $1234.4 per ounce.

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