Moneycontrol
Jun 16, 2017 12:31 PM IST | Source: Moneycontrol.com

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.

Gold prices are expected to trade lower today: Angel Commodities

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.


Outlook


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.


For all commodities report, click here


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