According to Angel Commodities, on the MCX, gold prices are expected to trade lower today, international markets are trading lower flat at $1216.65 per ounce.
Angel Commodities' report on Gold
On Thursday, spot gold prices declined marginally by 0.21 percent to close at $1217 per ounce on stronger dollar and higher equities and upbeat economic data. The MSCI world index hit a record high for the fourth time in less than a month as investors took Yellen's remarks as a green light for risk - taking. The U.S. economy is healthy enough for the Fed to raise interest rates, though low inflation and a low neutral rate could leave the central bank with diminished leeway, Yellen said on Wednesday. On the MCX, gold prices closed flat at Rs.28040 per 10 gms.Outlook
Optimistic economic data from the US, possibility of further rate hike in 2017 and higher global equities are factors exerting downside pressure on the yellow metal. On the MCX, gold prices are expected to trade lower today, international markets are trading lower flat at $1216.65 per ounce.
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