Feb 15, 2017 11:55 AM IST | Source: Moneycontrol.com

Expect Gold prices to trade lower today: Angel Commodities

According to Angel Commodities, expect gold prices to trade lower today on account of stronger dollar on comments from Janet Yellen regarding faster rate hikes and strong economic growth.

Expect Gold prices to trade lower today: Angel Commodities

Angel Commodities report on Gold

On Tuesday, spot gold prices rose by 0.26 percent to close at $1228.2 per ounce as the dollar ticked higher after U.S. Federal Reserve Chair Janet Yellen hinted at a hike in interest rates in an upcoming meeting of the central bank.

Outlook

We expect gold prices to trade lower today on account of stronger dollar on comments from Janet Yellen regarding faster rate hikes and strong economic growth. On the MCX, gold prices are expected to trade lower today, international markets are trading lower by 0.2 percent at $1226 per ounce.

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