Moneycontrol
Mar 20, 2017 01:21 PM IST | Source: Moneycontrol.com

Expect Gold prices to trade higher today: Angel Commodities

According to Angel Commodities, We expect gold prices to trade higher today as international markets are trading higher by 0.4 percent at $1226.7 per ounce after gaining for the past few days as although the US FED has done the rate hike for the second time, they said that further rate hikes will be gradual in nature.

Expect Gold prices to trade higher today: Angel Commodities

Angel Commodities' report on Gold


Last week, Spot gold prices traded higher by 2 percent, to close at $1228.4/oz, while MCX gold prices rose by 0.5 percent at Rs.28509 per 10 gms. The U.S. Federal Reserve called for gradual monetary tightening after raising interest rates by an expected 25 basis points for the second time in three months.


Outlook


We expect gold prices to trade higher today as international markets are trading higher by 0.4 percent at $1226.7 per ounce after gaining for the past few days as although the US FED has done the rate hike for the second time, they said that further rate hikes will be gradual in nature. On the MCX, gold prices are expected to trade higher today, in line with international trends.


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