Moneycontrol
May 17, 2017 12:27 PM IST | Source: Moneycontrol.com

Gold prices are expected 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 0.6 percent at $1243.3 per ounce.


Angel Commodities' report on Gold


On Tuesday, spot gold prices rose 0.5 percent to close at two-week highs of $1236.4 per ounce as a report stated that US President Trump shared sensitive intelligence obtained from a close U.S. ally possibly Israel with Russia’s foreign minister and ambassador in a meeting last week, sending jitters about global security.


Outlook


We expect gold prices to trade higher today as further weakness in the DX following recent news that Trump asked FBI Director James Comey to drop an investigation into former National Security Adviser Michael Flynn, will be supportive.


Also, uncertainty in North Korea and political turmoil in US are factors positive for gold prices. On the MCX, gold prices are expected to trade higher today, international markets are trading higher by 0.6 percent at $1243.3 per ounce.


For all commodities report, click here


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