Moneycontrol
May 19, 2017 01:00 PM IST | Source: Moneycontrol.com

Gold prices are expected to trade sideways today: Angel Commodities

According to Angel Commodities, On the MCX, gold prices are expected to trade sideways today, international markets are trading higher by 0.13 percent at $1248.68 per ounce.

Gold prices are expected to trade sideways today: Angel Commodities

Angel Commodities' report on Gold


On Thursday, spot gold prices declined by 1.09 percent to close at $1246.6 per ounce s a bounce in the dollar prompted some buyers to cash in gains after its biggest one-day rally in nearly a year, though uncertainty over the outlook for the Trump presidency underpinned the metal near two-week highs.


Outlook


On the MCX, gold prices are expected to trade sideways today, international markets are trading higher by 0.13 percent at $1248.68 per ounce. Market focus has now shifted to promised tax cuts and infra spending by the US president which in turn can pull down precious metals.


For all commodities report, click here


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