Moneycontrol
Jun 15, 2017 02:05 PM IST | Source: Moneycontrol.com

Gold prices are expected to trade sideways today: Angel Commodities

According to Angel Commodities, expect gold prices to trade sideways today as the widely expected rate hike by the US FED is done with.

Gold prices are expected to trade sideways today: Angel Commodities

Angel Commodities' report on Gold


On Wednesday, spot gold prices declined marginally by 0.37 percent to close at $1260.7 per ounce after the Federal Reserve increased interest rates but was less dovish than expected following a two-day meeting, and the dollar sharply pared its losses against a basket of major currencies.


Outlook


We expect gold prices to trade sideways today as the widely expected rate hike by the US FED is done with. Fresh set of factors coming from UK will have its own effect on precious metals in the near term. On the MCX, gold prices are expected to trade sideways today; international markets are trading marginally higher by 0.31 percent to close at $1264.66 per ounce.


For all commodities report, click here


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