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 0.1 percent to close at $1283 per ounce.
Angel Commodities' report on Gold
On Monday, spot gold prices declined marginally by 0.07 percent to close at $1284.3 per ounce losing steam as U.S. Treasury yields turned higher and the dollar came off its lows, after rising geopolitical tensions over North Korea spurred earlier safe-haven buying in bullion.
We expect gold prices to trade lower today on account of profit booking at higher levels after a a recent rally, while geo-political tensions will result in higher gold prices in the near term. On the MCX, gold prices are expected to trade lower today, international markets are trading lower by 0.1 percent to close at $1283 per ounce.
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