Gold prices are expected to trade lower today: Angel Commodities
According to Angel Commodities, on the MCX, gold prices are expected to trade lower today, international markets are trading lower by 0.02 percent at $1253 per ounce.
Angel Commodities' report on Gold
On Thursday, spot gold prices declined by 0.57 percent to close at $1253.5 per ounce as prices fell to a three-week low, weighed down by a stronger dollar as investors began to assess the potential for another U.S. rate hike later in the year, supported by data showing a strong U.S. jobs market.
With fed raising the rates by 25 bps and possibility of one more rate hike in 2017 and talks about balance sheet normalization are all push factors for gold prices to fall in the near term. On the MCX, gold prices are expected to trade lower today, international markets are trading lower by 0.02 percent at $1253 per ounce.
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